Nepal Carpet Exports Decreased By 14%
In August 19th, the Kathmandu Post reported that the number of hand woven woollen carpets, which was the second largest export commodity in Nepal, dropped by 14%.
According to the NIM Trade Promotion Center, 07/08 exported 1 million 140 thousand square meters of wool carpet in the fiscal year 07/08, valued at $84 million 860 thousand, while 06/07 exported 1 million 340 thousand square meters in value year, valued at $79 million 370 thousand. Despite the increase in exports, factors such as strikes, wage increases and weakness in the US dollar have engulfed industry profits. About 6-7 factories have been closed, and 25 companies are negotiating with the unions about attrition and closure.
The United States, Germany and the United Kingdom are the largest selling destinations for nylon carpets, with sales of $36 million 930 thousand, $24 million, and $4 million 400 thousand respectively.
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