High-value exports falter as Nepal’s export growth rides on re-exported edible oil
Summary
Nepal's overall export growth surged by 43.76% in the first half of the fiscal year, mainly driven by the re-export of imported edible oil, while high-value exports remain stagnant.
Key Points
- Nepal's export growth rose 43.76% primarily due to a 155.69% increase in edible oil exports, which are re-exports rather than domestically produced.
- Exports of high-value goods under NTIS 2023 increased marginally by only 1.22%, indicating weak performance.
- Exports of key products like yarns, carpets, readymade garments, tea, and iron and steel products declined.
- Shipments of some products such as jute goods, large cardamom, pashmina, footwear, medicinal herbs, ginger, and pasta saw significant increases.
