There has been a 16 percent rise in Nepal's readymade garments (RMG) exports to world markets during the initial seven months of current fiscal year, over corresponding period last year.
As revealed by the preliminary trade data released by the Trade and Export Promotion Centre (TEPC), Nepal exported RMG products worth Rs. 2.33 billion during the initial seven months of current fiscal, as over Rs. 2.01 billion worth of export during corresponding period, last year.
There has been a rise in RMG exports to the third world countries during the current fiscal.
During the initial five months, rose by 20.8 percent to Rs. 1.85 billion, while it grew by 16.4 percent to Rs. 2.04 billion during the last six months of the fiscal.
In its seven month data TEPC even stated that, rise in export of readymade garments, woollen carpets and other exportable items also helped in easing the country's trade deficit.
According to the TEPC's trade statistics, France, Germany, UK, USA, Canada and Belgium amongst others, remained to be the key markets for Nepal's RMG products during the review period.
Editorial note –
Nepal has been able to register this surge in RMG exports after a long period. The recently signed agreement with the US will also go a long way in boosting clothing exports in the Himalayan kingdom.
Fibre2fashion News Desk - India
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