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Sri Lankan textiles & garment exports up 6% in Feb '15

19 May '15
2 min read

Sri Lankan export earnings from textiles and garments, which represent about 47 per cent of total exports, increased by 6 per cent in February 2015 to $419.9 million compared to exports of $396.2 million in the same month last year, according to the data from the Economics Research Department of the Central Bank of Sri Lanka.
 
The 6 per cent growth rate registered by the textiles and garment exports reflect improved exports to both traditional and non-traditional markets.
 
For the first two months of 2015, Sri Lanka’s cumulative textiles and garment exports stood at $829.7 million, showing an increase of 2.7 per cent over exports of $808.2 million made in the corresponding period of last year.
 
On the other hand, the import of textiles and textile articles by Sri Lanka shot up by 38.4 per cent to $211.1 million in February 2015, as against imports of $152.5 million made in the corresponding month of the previous year. Cumulative January-February imports rose 18.8 per cent to $411.1 million.
 
The increase in imports of textiles and textile articles shows expansion of garment manufacturing in the island country.
 
In 2014, Sri Lanka’s textiles and garments exports increased by 9.4 per cent year-on-year to $4.929 billion, while the import of textiles and textile articles grew by 13.8 per cent to $2.327 billion. (RKS)
 

Fibre2fashion News Desk - India

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