Garment export to US declines by 54 percent

The export of readymade garments to the US, one of the major market of Nepali readymade garment, has declined by 54 percent in January as compared to same month of the last fiscal year.

According to statistics of the Garment Association of Nepal (GAN), garments worth US$ 2,597,746.46 were exported to US in the first month of 2007 as compared to US$ 5,607,532.23 traded in January last year.

4,220 kg of readymade garments were exported during the month of January as compared to 10,796.88 kg of the same period last year.

GAN further said that garment worth US$ 3,408,950.02 were exported to US in December last year.

Nepali garment export has been going through a downward spiral since the US pledged duty and quota-free facility to Sub-Saharan African and Caribbean countries.

The export of readymade garment to the US declined by 6 percent in 2006, while it declined by 41 percent in 2005 and 30 percent in 2004. nepalnews.com pb Feb 06 07