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

UK GDP growth to stay steady but subdued: CBI

Textiles | On 8th Dec 2017

UK GDP growth to stay steady but subdued: CBI

The gross domestic product (GDP) in the United Kingdom (UK) will grow ...

Amazon launches operations in Australia

Apparel/Garments | On 8th Dec 2017

Amazon launches operations in Australia

US online retail giant Amazon recently unveiled its business in...

Courtesy: G-III Apparel

Apparel/Garments | On 8th Dec 2017

Q3 FY18 G-III Apparel sales up 16% to $1.02 billion

For the third quarter of fiscal 2018, net sales of G-III Apparel...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


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