Home / Knowledge / News / Apparel/Garments / Dip in Sri Lankan apparel exports raise concerns
Dip in Sri Lankan apparel exports raise concerns
30
Jul '12
Concerns are being raised over fall in Sri Lanka’s apparel exports, particularly to the European Union (EU). 
 
Harsha de Silva, a legislator representing Sri Lanka’s main opposition, said withdrawal of tariff preferences by the EU due to poor governance of Sri Lanka is expected to lead to a further fall in country’s apparel exports to the EU.
 
During May this year, Sri Lanka’s apparel exports dipped by 13.5 percent to US$ 278.2 million, while first four months exports fell by 4.9 percent to US$ 1.6 billion.
 
Mr. Silva, who is also a development economist with a PhD from the University of Missouri, said grappling against economic woes in the region, the country is now feeling the heat of withdrawal of the Generalized System of Preferences plus (GSP+) by the EU.
 
GSP+ status is granted to the countries allowing broader rights and freedoms to their citizens as per the International Covenant on Civil and Political Rights.
 
The legislator said the country’s monthly apparel exports that stood at US$ 367 million in January this year, dipped to US$ 278 million by May, 2012.
 
He said the overflow of orders from China during early last year led to an overbooked situation, which eclipsed the effects of withdrawal of the GSP+ facility. However, the conditions are no more the same, and the impact is much more intense even than the demand slump in the EU, he added.
 
The real impact of loss of the GSP+ is now becoming apparent, as the country is losing out on apparel export orders to the countries that are still enjoying the duty concessions with their good governance, and hence have a better competitive edge.
 
As such, it would be wise to give a second-thought and make efforts to regain the GSP+ facility, he added.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search