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Smriti Shakya

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Readymade Garments Export to US Plummets

Readymade Garments Export to US Plummets THT Online Kathmandu, June 9 Nepali readymade garment (RMG) exporters continued to suffer yet another month as exports to the United States, the single largest market of Nepali readymade garment exports, plummeted by 51 per cent in value during the month of May. It is the fourth consecutive month this year that the exports of Nepali textile and apparel products have lost its beat. The RMG exports to the US have been suffering for the last couple of years but it had slightly recovered early this year with exports rising by a mere two per cent. The exports had suffered a loss of 30 per cent in 2004 and it went down further by 41 per cent in 2005. It slowed down with six per cent drop in 2006 but it saw a whopping fall of 48 per cent in 2007. As the US alone absorbs more than 80 per cent of the total RMG exports, the single country concentration is blamed to be one of the major reasons for such a huge and continuous plummet. The industry is already

Mamta Thapa

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