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    {"id":28877,"date":"2020-08-13T14:36:04","date_gmt":"2020-08-13T09:06:04","guid":{"rendered":"https:\/\/www.nepalisansar.com\/?p=28877"},"modified":"2020-08-13T14:36:04","modified_gmt":"2020-08-13T09:06:04","slug":"nepal-losses-npr-7-bn-in-exports-as-covid-19-impedes-foreign-trade","status":"publish","type":"post","link":"https:\/\/www.nepalisansar.com\/business\/nepal-losses-npr-7-bn-in-exports-as-covid-19-impedes-foreign-trade\/","title":{"rendered":"Nepal Losses NPR 7 Bn in Exports As COVID-19 Impedes Foreign Trade!"},"content":{"rendered":"

    Nepal lost nearly NPR 7 billion in exports<\/strong> of high-value products in the FY 2019\/20 as the coronavirus pandemic<\/a> hindered foreign trade.<\/p>\n

    According to the Trade and Export Promotion Centre, the shipments of high-value products in the last fiscal stood at NPR 30.11 billion, down by 18.65% from FY 2018\/19.<\/p>\n

    The steep fall in shipments is primarily due to the pandemic triggered lockdown during the main export season from mid-March to mid-April.<\/p>\n

    ALSO READ: Nepal Offers 50% Subsidy on ‘COVID-19 Family Insurance Plan’!<\/a><\/strong><\/p>\n

    \u201cOrders from buyers in major international markets like India, the US and Europe fell sharply due to global trade and transport restrictions. The world is still occupied with controlling the virus outbreak, and Nepal\u2019s trade could suffer further,\u201d said Sharad Bikram Rana, Executive Director of the Centre.<\/p>\n

    Exports of products listed in the Nepal Trade Integration Strategy like pashmina, tea, large cardamom, ginger, yarn and rope, textile, fabric, carpet, and footwear declined during the last fiscal.<\/p>\n

    \"Nepal<\/p>\n

    The drop in exports is as follows:<\/strong><\/p>\n

    \n\n\n\n\n\n\n\n\n\n\n\n\n
    \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Product <\/strong><\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Exports Worth<\/strong><\/td>\nDecline percentage<\/strong><\/td>\n<\/tr>\n
    FY 2019\/20<\/strong><\/td>\nFY 2018\/19<\/strong><\/td>\n<\/tr>\n
    Large cardamom<\/td>\nNPR 4 billion<\/td>\nNPR 4.28 billion<\/td>\n6.19%<\/td>\n<\/tr>\n
    Pashmina<\/td>\nNPR 2.26 billion<\/td>\nNPR 2.51 billion<\/td>\n9.79%<\/td>\n<\/tr>\n
    Tea<\/td>\nNPR 2.78<\/td>\nNPR 3.20 billion<\/td>\n13.14%<\/td>\n<\/tr>\n
    Textile, fabrics, yarn and rope<\/td>\nNPR 12 billion<\/td>\nNPR 16.20 billion<\/td>\n25%<\/td>\n<\/tr>\n
    Carpet<\/td>\nNPR 6.16 billion<\/td>\nNPR 7.45 billion<\/td>\n17.32%<\/td>\n<\/tr>\n
    Ginger<\/td>\nNPR 435 million<\/td>\nNPR 512 million<\/td>\n14.94%<\/td>\n<\/tr>\n
    Footwear<\/td>\nNPR 753 million<\/td>\nNPR 905 million<\/td>\n16.72%<\/td>\n<\/tr>\n
    Leather<\/td>\nNPR 164 million<\/td>\nNPR 494 million<\/td>\n66.65%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    However, the export of medicinal and aromatic plants increased by 5.31% to NPR 1.51 billion in the last fiscal from NPR 1.43 billion in the previous fiscal.<\/p>\n

    Owing to the fall in foreign trade, the Nepali Government has introduced an ‘export house’ policy for micro, small and medium entrepreneurs to promote local products.<\/p>\n

    Under this policy, the government will build the capacity of the mentioned entrepreneurs and offers a 5% cash incentive to encourage the production of exportable products.<\/p>\n

    \u201cBut before the scheme can be implemented, the pandemic needs to subside here and in the potential export destinations,\u201d said Rana.<\/p>\n

    Stay Tuned to NepaliSansar For Latest Business News<\/a>!<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Nepal lost nearly NPR 7 billion in exports of high-value products in the FY 2019\/20 as…<\/span><\/p>\n

    Read more<\/a><\/div>\n

    <\/p>\n","protected":false},"author":761,"featured_media":28878,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7042,10004,3],"tags":[8765],"yoast_head":"\nNepal Losses NPR 7 Bn in Exports As COVID-19 Impedes Foreign Trade!<\/title>\n<meta name=\"description\" content=\"Nepal lost nearly NPR 7 billion in exports of high-value products in the FY 2019\/20 as the coronavirus pandemic hindered foreign trade.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nepalisansar.com\/business\/nepal-losses-npr-7-bn-in-exports-as-covid-19-impedes-foreign-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nepal Losses NPR 7 Bn in Exports As COVID-19 Impedes Foreign Trade!\" \/>\n<meta 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