Nepal’s export of handicraft products registered only a slight growth of 6 percent for the fiscal year 2012-13 that ended on July 15, 2013, according to 2012-13 data released by the Federation of Handicrafts Association of Nepal (FHAN).
In 2012-13, total export of handicraft products from the country touched Rs 4.36 billion, while the export figure during 2011-12 was around Rs 4.11 billion, reports The Himalayan Times.
Although the country’s overall exports of handicraft goods registered a 6 percent increase, the exports declined in the traditional markets such as US and UK.
Exports of most of the handicraft products including woolen products, silk goods, and cotton goods declined in 2012-13 compared to the previous year, owing to the financial turmoil in Europe, which is the major buyer of the country’s handicraft goods.
Hem Ratna Shakya, president of FHAN, said the decline in the exports of most of the handicraft products is mainly due to the financial crisis in the European countries as they are the major buyers of Nepali handicraft products.
The country’s exporters should now try to focus on emerging markets which can become new export destinations such as Brazil, Russia, India, China and South Africa (BRICS), due to the economic slowdown in traditional markets like UK and US, he added.
Mr. Shakya said the FHAN has taken the initiative to arrange special promotional programmes in the BRICS nations at regular intervals in order to help increase the export figures of handicraft products in the country.
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