gateway

Tuesday, 28 July 2020 14:16

Massive order cancellations in Nepal’s RMG sector due to COVID-19

Rate this item
(0 votes)
  

Nepal’s RMG sector has faced major order cancellations of almost 28 per cent of the country’s total apparel export in the first 11 months of financial year 2019-20, which ended in middle of July due to COVID-19. Garment Association of Nepal disclosed orders worth Rs 1.25 billion have either been cancelled or put on hold by global buyers on account of the pandemic.

Further, the country had to face major obstacles both in importing raw materials and exporting the ready products to many countries, which halted its traffic movement, said Chandi Prasad Aryal, President of the association. In the first 11 months of financial year 2019-20, Nepal exported apparel products worth Rs 4.54 billion against exports worth Rs. 6.34 billion in the corresponding period of previous year.