RMG export on upswing
Kathmandu, November 11:
With increase in the number of tourists — crossing 50,000 in a single month - October brought good news for the travel and tour operators. However, it could not cheer up Ready Made Garment (RMG) exporters. Though data reveals that October witnessed 44 per cent growth in Nepali Ready Made Garment (RMG) exports, its due to pending orders, claim the exporters.
Nepali Ready Made Garment (RMG) exports saw eight per cent drop in September but in October it picked up. In October, Nepali RMG export increased by 44 per cent, said Garment Association of Nepal (GAN). However, it plunged by 47 per cent in comparison to last October, states a recent Garment Association Of Nepal (GAN) data. Similarly, it dropped by a whopping 80 per cent in the year 2007 in comparison to the total export in the year 2003.
According to GAN, it exported RMG product amounting to $2.650 million in January, $2.014 million in February, $991,820.70 in March, $1.266 million in April, $1.109 million in May and plunged to $929,366.08 in June and $519,524.84 in July.
August also could not see any improvement as RMG product worth $692,883.27 was exported in this month. Similarly it further fell down to $657,549.38 in September. “But in October, it saw an increment and exported RMG worth $1,429,626.29,” according to the GAN. Chandi Prasad Aryal, acting general secretary of GAN said, “RMG export witnessed an increment of 44 per cent during the month of October due to pending orders that could not be exported in earlier months and exported in October.”
The export of RMG to the United States, which is the only largest market that alone absorbs 80 per cent of the total Nepali RMG exports, also suffered.
The export has been continuously suffering since long; loss of 30 per cent in 2004, 41 per cent in 2005, six per cent in 2006 and 48 per cent in 2007.