Export of a majority of NTIS goods declines

Exports of more than half of the goods selected under the Nepal Trade Integration Strategy (NTIS) -- the government’s blueprint to promote exports of products with high potential –dropped during the first ten months of the current fiscal year. Hoping to give a boost to slowing exports, the government had introduced NTIS in 2010 June identifying 12 goods and seven services to be prioritized for production and exports. The Trade and Export Promotion Center (TEPC) stated that export of noodles, essential oils, pashmina shawls, hand-made Nepali paper, natural honey, silver products and woolen products dwindled during the review period compared to the same period last year. Export of noodles and essential oils plunged by 15 percent and 17.2 percent to Rs 454.97 million and Rs 54.76 million respectively during the review period. Similarly, export of pashmina, hand-made paper and natural honey tumbled by 7.5 percent, 14.5 percent and 97.5 percent to Rs 1.56 billion, Rs 411.71 million and Rs 5,000 respectively. Nepal exported silver products and woolen products worth Rs 125.87 million and 332.18 million during the review period, down by 37.7 percent and 18.3 percent respectively. However, export of lentils, black cardamom, tea, ginger, medicinal herbs, and iron and steel products increased during the period. According to TEPC, Nepal exported lentils valued at Rs 2.39 billion during the review period, up by 20 percent from the corresponding period last year. Exports of black cardamom and tea also increased by 2.1 percent and 37.4 percent to Rs 3.01 billion and Rs 1.57 billion respectively. Similarly, export of ginger and iron and steel products also went up by 217.2 percent and 4.4 percent to touch Rs 1.06 billion and Rs 9.90 billion respectively. The government has already allocated around Rs 170 million to promote the goods and services included in NTIS. Overall export of NTIS goods increased by around 10 percent to Rs 21.99 billion during the review period. However, export of services is almost negligible and the government lacks proper record for that.