Reflecting the impact of seasonal demand, textile and garment exports grew at a higher rate compared to other industrial products in July 2014, according to a press release on ‘External Sector Performance – July 2014’ issued by the Economics Research Department of the Central Bank of Sri Lanka.
Reflecting the impact of seasonal demand, textile and garment exports grew at a higher rate compared to other industrial products in July 2014, #
Continuing this year's uptrend, textile and apparel exports earned US$ 414.5 million for Sri Lanka in July 2014, showing an increase of 11.3 percent over $372.5 million exports made in the same month last year, the data showed.
Reflecting the impact of seasonal demand, textile and garment exports grew at a higher rate compared to other industrial products in July 2014, #
Textiles and garments contributed 44 percent to the overall growth in Sri Lanka’s exports in July 2014.
Reflecting the impact of seasonal demand, textile and garment exports grew at a higher rate compared to other industrial products in July 2014, #
On the other hand, the import of textile and textile articles by Sri Lanka registered a growth of 6.4 percent and was valued at $206.6 million in July 2014, as against imports of $194.2 million in the corresponding month last year.
Reflecting the impact of seasonal demand, textile and garment exports grew at a higher rate compared to other industrial products in July 2014, #
In January-July 2014, Sri Lanka’s textile and garments exports fetched $2.826 billion, as against exports of $2.372 billion made during the corresponding period of last year. Meanwhile, imports of textiles and textile articles increased to $1.254 billion during the seven-month period, compared to imports worth $1. 160 billion made during the same period last year.
Reflecting the impact of seasonal demand, textile and garment exports grew at a higher rate compared to other industrial products in July 2014, #
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.
Reflecting the impact of seasonal demand, textile and garment exports grew at a higher rate compared to other industrial products in July 2014, #
Last week, Sri Lanka and China signed a memorandum of understanding (MoU) on launching negotiations for a free trade agreement (FTA) between the two nations.
Reflecting the impact of seasonal demand, textile and garment exports grew at a higher rate compared to other industrial products in July 2014, #
While China is the world’s largest exporter of textiles and apparel, Sri Lanka is a manufacturing hub for lingerie, T-shirts and blouses. At present, Sri Lankan exports of textiles and apparel attract duty ranging from 14 percent to 25 percent in China, and if the free-trade deal fructifies, all textile and clothing items from Sri Lanka would be able to enter the Chinese market duty-free. (RKS)
Reflecting the impact of seasonal demand, textile and garment exports grew at a higher rate compared to other industrial products in July 2014, #
Fibre2fashion News Desk - India