Nepal's garment export to US records 46pc plunge in 2007
Monday, 5 November 2007
KATHMANDU, Nov. 4 (Xinhua): Export of readymade garment to the United States has plunged by a whopping 46 percent in the first 10 months of 2007 compared to same period last year, as companies hit by labour stir and eroding competitiveness failed to lure international buyers, local media reported today.
According to the statistics of Garment Association Nepal (GAN), Nepali readymade garment exports valued mere 22.92 million US dollars over the first 10 months of the year, whereas it was 42.41 million dollars in the same period last year.
Breakdown of the monthly export data shows that exports to the largest apparel market slid by about 31 percent to about 1 million dollars in October 2007. It was a decline for 15 straight months, said GAN officials, eKantipur.com website reported.
Entrepreneurs attributed the decline to fast losing of orders over the past one year due mainly to internal problems such as labour stir and unrest in southern Nepal.
They said most of the manufacturing units still remain closed due to internal problems. Even those who have managed to overcome the problem are also operating with meager orders.
According to the statistics of Garment Association Nepal (GAN), Nepali readymade garment exports valued mere 22.92 million US dollars over the first 10 months of the year, whereas it was 42.41 million dollars in the same period last year.
Breakdown of the monthly export data shows that exports to the largest apparel market slid by about 31 percent to about 1 million dollars in October 2007. It was a decline for 15 straight months, said GAN officials, eKantipur.com website reported.
Entrepreneurs attributed the decline to fast losing of orders over the past one year due mainly to internal problems such as labour stir and unrest in southern Nepal.
They said most of the manufacturing units still remain closed due to internal problems. Even those who have managed to overcome the problem are also operating with meager orders.