Carpet slump dents Nepal’s China exports

AI Summary

Nepal’s exports of carpets to China have declined by over 41 percent in the first ten months of the fiscal year, primarily due to rising costs, labor shortages, and increased competition from machine-made products. This slump negatively impacts trade relations and export market dynamics.

Shipments to China fell over 41 percent in the first 10 months of the fiscal year, largely due to a steep decline in carpet exports amid rising costs, labour shortages and growing competition from machine-made products.