Country's export to major markets falls

KATHMANDU, MAR 05:

Export of Nepali products has dropped by almost half with its trading partners. During the first six months of the current fiscal year, exports of Nepali products to six countries decreased.

The Trade and Export Promotion Centre (TEPC) export figures has shown a downward trend with six countries including the United States, Germany, UK, France, Italy, and Canada.

According to the statistics, export with these countries has dropped by 15.6 per cent, 22.2 per cent, 19.1 per cent, 15.1 per cent, 11.4 per cent and 33.1 per cent respectively.

Meanwhile, export to India, Bangladesh, China, Japan, Turkey, Thailand and Bhutan increased by 2.5 per cent, 63.1 per cent, 243.7 per cent, 9.2 per cent, 282.3 per cent, 97.5 per cent, and 32.2 per cent respectively.

TEPC statistics also showed drop of major exportable products in the six months period. Exports of products such as Woolen Carpet, Readymade Garments, Woolen, Pashmina Shawls and Nepali Handmade Paper recorded fall. Products including Natural Honey, Silver Jewellery and Woolen products enlisted in the NTIS product also witnessed drop in exports.

“Export of Natural Honey decreased by 97.5 per cent, followed by silver jewellery at 47 per cent and woolen products by 26.4 per cent,” shows TEPC data for the first six months.

However, exports of commodities such as lentils, cardamom, tea, ginger and handicraft products have shown some increment.

The export of cardamom has increased by 32.8 per cent, lentils by 68.8 per cent, tea by 34.9 per cent, ginger by 286.5 per cent and handicraft by 18.7 per cent respectively, the data showed.

Country’s total export during the first six months of the current fiscal year was around Rs 38.22 billion which is an increment of 4.1 per cent compared to same period last year. During the first six months last year, total export worth Rs 36.71 billion was recorded, states TEPC statistics.

Source: THT