Sri Lankan garment exports up 10% in Oct 2017
03 Jan 18 2 min read
“Garment exports to the US increased by 14.7 per cent, in October 2017 while those to the EU increased by 8.0 per cent with the benefit of GSP+ facility taking effect reflecting increased demand for garments,” the central bank said in its report ‘External Sector Performance – October 2017’.
The island nation’s cumulative textile and garment exports during January-October 2017 stood at $4.137 billion, around 0.7 per cent more than $4.107 billion exports made during the comparable period of last year, the central bank data showed.
During January-October 2017, clothing exports alone accounted for $3.895 billion, registering an increase of 0.5 per cent year-on-year.
Textiles and apparel constituted 58.84 per cent of earnings received from all industrial exports made by the South Asian nation during the ten-month period, the data showed.
Meanwhile, Sri Lanka’s expenditure on imports of textiles and textile articles increased by 1 per cent to $2.240 billion in January-October 2017. Clothing and accessories imports were valued at $319.1 million, up 2.9 per cent.
Sri Lanka earned $4.884 billion in textiles and apparel exports in 2016, registering a growth of mere 1.3 per cent year-on-year. Of this, clothing exports alone accounted for $4.602 billion, up 1 per cent over previous year’s earnings of $4.555 billion. (RKS)
Fibre2Fashion News Desk – India
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