Garment export to US declines by 64 percent in February

The export of readymade garments to the US, one of the major markets of Nepali readymade garment, has continued to decline in the month of February as well.

According to statistics of the Garment Association of Nepal (GAN), the export of readymade garments, one of the largest foreign currency earners, to the US declined by 64 percent in February as compared to same month of the last fiscal year.

The GAN said that readymade garments worth US$ 2,332,147.06 were exported to US in the February 2007 as compared to US$ 4,455,332.08 of the same month of last year.

4,527 kg of readymade garments were exported during the second month of the year as compared to 9,516 kg of the same period last year.

GAN further said that garment worth US$ 2,597,746.46 were exported to US in January.

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 Mar 02 07

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