I really feel very happy to present good news about the Nepalese economy after so many days. It seems that Nepal's RMG (ready made garments) sector is on the road to witnessing high growth in terms of export earning. RMG has changed the face of the economy of my country, Bangladesh and I will not get surprised if it can do something substantial for Nepal. Garment Association of Nepal (GAN) has published data in which it was found that Nepal's readymade garment exports to the US saw a 33% increase in May 2006 compared to the same month a year ago. In May, 2005 Nepal exported $4.20 million to USA while this May it rose to $5.60 million. The US market accounts for 80% of garments export for Nepal. However, there is not enough grounds to celebrate the increase as Nepal's garments export is not stable. In one month it is rising while on the next month it is declining.
I am hopeful about the Nepalese garments sector mainly for two reasons. Nepal can afford cheaper labors compared to many other countries in Asia. Secondly, the new found political stability will surely help the country to do better in the RMG sector.
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