India VS Pakistan
Kathmandu, 25 July — Nepal’s plywood industry has witnessed a remarkable and encouraging upswing in its export figures, as the high-value chain product takes center stage on the global market. According to the latest data released by the Customs Department, the fiscal year 2079/80 showcased a phenomenal growth in plywood exports, recording a staggering value of NPR 2.14 billion.
This monumental achievement represents an extraordinary surge of over 500 percent compared to the preceding financial year. In the immediate past fiscal year, plywood exports were valued at a modest NPR 35.22 million, a stark contrast to the current fiscal’s monumental figure. Furthermore, the data extracted from the Customs Department reveals that the export worth of plywood stood at just NPR 1.46 million in the year preceding the previous fiscal.
The rapid rise in plywood exports underscores the resilience and potential of Nepal’s manufacturing sector, particularly in the production of high-quality plywood products that resonate well with international buyers. This positive trend is not only a testament to the country’s skilled craftsmanship but also signifies the growing demand for Nepal’s products in the global market.
The surge in plywood exports is expected to contribute significantly to the country’s trade balance and foreign exchange reserves. Moreover, it highlights the capacity of Nepali industries to adapt and excel in a competitive global trade landscape. As the nation moves forward, stakeholders are keen to harness this momentum and explore avenues to further enhance the production and export of high-value goods, paving the way for economic growth and prosperity.
