KATHMANDU, March 8 (Xinhuanet) -- Export of readymade garments, Nepal's main foreign currency earner, to the United States in the month of February has increased by 47 percent compared to the 8 percent decline in January this year.
However, according to figures released by the Garment Association of Nepal (GAN), garment export in the same month during the previous fiscal declined by 55 percent which was worth 4,455,332 U.S. dollars.
The value in terms of dollars of readymade garment export in the month of February 2006 stands at 6,539,944 dollars, a statement issued by GAN said on Wednesday.
Similarly, the export of ready made garments to the United States in the month of February 2004 stood at 9,905,349 dollars which was a decline by 41 percent compared to 31 percent decline in January in the same year, GAN said.
However, in the month of January 2003, garment exports to the United States had gone up by 48 percent.
According to the GAN, in the fiscal year 2003, exports registered a rise by 72 percent.
But in 2005, export of readymade garments to the United States declined by 41 percent, compared to a 30 percent decline in 2004.
"The rise in export was seen after an American importer increased its import from Nepal from a few months back," first-vice president of the GAN Basant Pokhrel told reporters.
In days ahead, export will not decline as small and medium enterprises have already collapsed and only big industries are in the market who can compete with global products, Pokhrel said.
Dealing with U.S. companies is improving, he said. Exporters inNepal are demanding with the U.S. government for duty free access for Nepali products for long without much success. Enditem |