Alibaba’s sale on ‘Singles Day’ worth more than three times the annual budget of Nepal

Chinese e-commerce company, Alibaba had posted record sales yesterday. On November 11^th, also commonly known as ‘singles day’, Alibaba posted record sales of 31 Billion USD (almost equal to 36 Kharba NPR). This includes sales from all the portals of Alibaba. Alibaba’s sale yesterday is greater than three times the annual budget of Nepal. Nepal’s budget for FY 75/76 is Rs.13.14 Kharba.

Compared to last year, Alibaba’s sale increased by 7 Billion USD. Alibaba’s sale last year on the same day was 24 Billion USD. Alibaba has been following this practice for the past ten years. Due to the trade war between America and China, the anticipation of fall in the Chinese economy has been proved wrong by record sales of Alibaba.  

19,000 brands across 75 countries took part in Alibaba’s singles day trade.

The singles day is celebrated as a counter to Valentine’s Day. Singles day glorifies the happiness of people who are single.