Home / Knowledge / News / Textiles / Sri Lanka's textile & garment exports continue to grow
Sri Lanka's textile & garment exports continue to grow
15
Jul '14
Textiles and garments turned out to be the leading driver of growth in Sri Lanka’s industrial exports in May 2014, as a result of significant increases in exports to both traditional and non-traditional markets, says a press release on ‘External Sector Performance – May 2014’ issued by the Economics Research Department of the Central Bank of Sri Lanka.
 
During the month, Sri Lanka’s earnings from exports of textiles and garments grew by 14.5 percent to US$ 365.1 million, compared to earnings of $318.9 million recorded in same month last year, according to the statement.
 
“Sri Lanka’s apparel industry has been increasing its value addition through strategies such as backward integration, establishment of brands and improved reputation as a quality and timely apparel supplier,” the press release said.
 
In May 2014, Sri Lanka’s textile and textile article imports increased by 11.2 percent year-on-year to $176.4 million, indicating higher export orders for apparel products in the coming months, the data showed.
 
In January-May 2014, Sri Lanka’s textiles and garments exports surged 19.6 percent to $1.966 billion, as against exports of $1.643 billion made during the corresponding period of last year. On the other hand, imports of textiles and textile articles increased by 9.3 percent to $884.4 million during the five-month period, compared to imports worth $809 million made during the same period last year.
 
In 2013, Sri Lanka’s earnings from textile and garment exports grew by 13 percent year-on-year to $4.508 billion, while its value of imports declined by 9.7 percent year-on-year to $2.045 billion.
 
Sri Lankan President Mahinda Rajapaksa has set an ambitious target of achieving apparel export target of $10 billion by 2016.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X