Sri Lanka's textile & garment exports up 26.9% in Dec 2013

10 Feb '14

2 min read

Sri Lanka’s earnings from export of textiles and garments grew by 26.9 per cent year-on-year to US$ 454 million in December 2013, according to a press release on ‘External Sector Performance – December 2013’ issued by the Economics Research Department of the Central Bank of Sri Lanka.

The surge in textiles and apparel exports from Sri Lanka during the month was due to a 24.9 percent year-on-year and 35.6 percent year-on-year rise in exports to the EU and the US, respectively, the statement said.

In December 2013, Sri Lanka’s textiles and clothing exports earned $453.9 million, compared to $357.8 million earnings in the corresponding month of 2012.

From January to December 2013, Sri Lanka exported textiles and garments worth $4.508 billion, registering an increase of 13 percent over exports worth $3.991 billion made in 2012.

“However, despite the strong growth in export of textiles and garments, there has been a steady decline in the importation of textile and textile related articles, reflecting improved backward linkages and higher value addition in the garment industry,” the release said.

In December 2013, the imports of textiles and garments by Sri Lanka decreased by 10.2 percent year-on-year to $174.1 million.

Last year, the country’s total textile and clothing imports declined by 9.7 percent year-on-year to $2.045 billion.

Meanwhile, export of leather, travel goods and footwear grew by 82.4 percent year-on-year in December 2013, the data showed.

Fibre2fashion News Desk - India