Nepal’s high-value exports rise 23.85 percent in first quarter

Nepal’s exports of high-value products rose by 23.85 percent in the first three months of the current fiscal year compared to the same period last fiscal year, driven by higher shipments of large cardamom, iron and steel products, jute and jute products, readymade garments, pashmina shawls, carpets, and felt products. Exports of products listed under the Nepal Trade Integration Strategy (NTIS) 2023 reached Rs36.65 billion in the first three months of the current fiscal year, up from Rs29.59 billion during the same period last fiscal year.

During the review period, Nepal’s overall exports grew by 57.03 percent to Rs114.28 billion, mainly due to the re-export of edible oils, including palm, soyabean, and sunflower oil. The country exported edible oils worth Rs58.42 billion in the first three months of the current fiscal year.

Trade experts said exports could have grown further if Nepal had been able to process and package its agricultural products to meet international standards and sell them in different markets.