Home / Knowledge / News / Textiles / Textiles & garments drive Sri Lankan exports in June'14
Textiles & garments drive Sri Lankan exports in June'14
26
Aug '14
Textiles and garments was the main driver of growth in overall Sri Lankan exports in June 2014.
 
“Textiles and garment exports, which account for 45.3 percent of total exports, grew by 25 percent year-on-year to US$ 446 million in June 2014, contributing more than 50 percent to the overall growth in exports in June 2014,” says a press release on ‘External Sector Performance – June 2014’ issued by the Economics Research Department of the Central Bank of Sri Lanka.
 
Sri Lanka’s textile and clothing exports to the EU grew by 34.6 percent, while to the US by 12.1 percent. However, a sharper growth of 44.5 percent was witnessed in exports to non-traditional markets.
 
“The rapid growth in the apparel industry indicates the ability of the industry to achieve the target for exports of $5 billion well before 2016,” says the Central Bank.
 
Strategies such as backward integration and promotion of new Sri Lankan brands in the international market have helped the industry to grow rapidly, according to the Bank.
 
The maintenance of safety and other international standards also helped the textile and garment industry in Sri Lanka to face the strong competition in international markets.
 
In January-June 2014, Sri Lanka’s textiles and garments exports surged 20.6 percent to $2.412 billion, as against exports of $2 billion made during the corresponding period of last year. On the other hand, imports of textiles and textile articles increased by 8.6 percent to $1.048 billion during the first half of this year, compared to imports worth $965.9 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.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Jun 2017

Alfredo Grassi to develop graphene-enhanced workwear

Alfredo Grassi, manufacturer of customised protective clothing,...

Courtesy: IMRG

Apparel/Garments | On 23rd Jun 2017

UK online retail sales up only 10.2 pc YoY in May 2017

UK online retail sales were up 10.2 per cent year-on-year (YoY) in...

Courtesy: Radicigroup

Textiles | On 23rd Jun 2017

Radici Chimica focuses on business continuity

Radici Chimica SpA, a strategic RadiciGroup company, is keen on...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

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

Ritu Kumar
Label Ritu Kumar

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

Yash P. Kotak
Bombay Hemp Company

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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:
June 2017

June 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