In November 2019, Sri Lanka’s earnings from textiles and garment exports remained positive and the island nation earned $448.1 million from textiles and clothing exports, registering an increase of 3.2 per cent over exports of $469.8 million during the same month of 2018. “Earnings from textiles and garments increased in November 2019 supported by higher demand for garment exports from the EU and non-traditional markets,” the central bank said in its report ‘External Sector Performance – November 2019’.
Meanwhile, Sri Lanka’s expenditure on textiles and textile articles increased in November 2019 by 4.5 per cent year-on-year to $256.9 million, and clothing and accessories imports were down by 11.2 per cent to $20.5 million. “Import expenditure on textiles and textile articles increased, led by higher fabric and fibre imports,” the central bank said.
In 2018, Sri Lanka earned $5.317 billion in textiles and apparel exports, registering a growth of 5.7 per cent year-on-year. Of this, clothing exports alone accounted for $4.960.8 billion. On the other hand, imports increased by 4.9 per cent to $2.858 billion.
Fibre2Fashion News Desk (RKS)