Home / Knowledge / News / Apparel/Garments / Sri Lankan garment & textile exports decline in July
Sri Lankan garment & textile exports decline in July
14
Sep '12
Sri Lanka’s earnings from garment and textile exports declined by 14.4 percent year-on-year to US$ 328.2 million in July 2012, according to the figures released by the Central Bank.
 
In July 2011, Sri Lanka’s textile and garment exports stood at US$ 383.3 million.
 
The dip in Sri Lankan apparel and textile exports is mainly due to fall in demand from the recession hit EU countries.
 
However, textile and clothing imports grew 7.1 percent year-on-year to US$ 195.6 million during the month, compared to imports worth US$ 182.6 million during the corresponding month last year.
 
In July 2012, Sri Lanka’s total exports fetched US$ 794.4 million, while the country spent US$ 1.329 billion for importing goods, thus creating a negative balance of trade of US$ 534.6 million.
 
Last year, Sri Lankan garment and textile sector had exported goods worth US$ 4 billion and the country has set a target of achieving US$ 5 billion in apparel and textile exports by 2016.
 
Sri Lankan garment sector faces stiff competition from other SAARC countries like Bangladesh, India and Pakistan and it will be a challenge for the sector to maintain US$ 4 billion level in exports in the midst of the ongoing debt crisis in eurozone and quickly rising exchange rates, according to experts.
 
Hence, apparel firms in Sri Lanka are currently exploring possibility of exporting to non-traditional markets so as to sustain the present growth level.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
March 2017

March 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