From January-Augutst 2015, textiles and garments exports earned $3.218 billion for Sri Lanka, compared to $3.256 billion fetched during the corresponding period of the last year, the data showed.

Textiles and apparel accounted for about 59.10 per cent of all industrial exports and about 45.03 per cent of all exports made by the South Asian nation during the eight-month period.

Continuing with the downtrend witnessed in June and July, textile and garment exports declined 6.6 per cent year-on-year in August 2015, “reflecting a reduction in exports to the EU market for the sixth consecutive month,” the Economic Research Department of the Central Bank said in its press release on external sector performance for the month.

Meanwhile, Sri Lanka's import expenditure on textiles and textile articles increased by 5.3 per cent year-on-year to $1.547 billion, during the eight-month period. However, August imports dropped significantly by 28 per cent to $154.2 million, as against imports of $214.3 million during the same month last year.

Last year, Sri Lankan textiles and garments exports increased by 9.4 per cent year-on-year to $4.929 billion. (RKS)

Fibre2Fashion News Desk – India