As in the first nine months of the current fiscal year, the rise in exports is attributed to the weakening of the Nepali currency. The Nepali currency was being traded at between Rs 68.85 and Rs 80 per US dollar in the first 10 months of the current fiscal year, whereas it had averaged between Rs 64.45 and Rs 68.55 in the same period last fiscal year. When the Nepali currency weakens, exporters get more Nepali rupees while exchanging US dollars.
The data released by the Federation of Handicraft Associations of Nepal states Nepal had exported more than 25 categories of goods in the first nine months of the current fiscal year, with pashmina products topping the list.
In the 10-month period, Nepal had exported pashmina products worth Rs 598.87 million, up 28 percent from last year. Apart from the weakening of the Nepali currency, diversification in the products range is seen as the reason behind the rise in exports of pashmina products. Nepali traders these days are not just exporting pashmina shawls, but also a wide range of pashmina products, including sweaters and ponchos, experts said.
Likewise, exports of woolen goods also went up by 26 percent to Rs 362.11 million in the first 10 months of the current fiscal year. And exports of silver jewelry--which make up 12 percent of the total handicraft exports--went up by seven percent to Rs 299.53 million.
Exports of other items such as felt goods and handmade paper products also went up by 31 percent and 12 percent, respectively, to Rs 197.04 million and Rs 203.46 million. Among others, Rs 297.27 million worth of metal crafts, Rs 117.59 million worth of silk products, Rs 100.96 million worth of cotton products, Rs 49.81 million worth of wood crafts and Rs 30.10 million worth of hemp goods were exported in the first 10 months of the current fiscal year.
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