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Sri Lanka's textile exports rise 4.3% in Jan-July '16

18 Oct '16
1 min read

Continuing with the positive trend since the beginning of this year, exports of textiles and garments from Sri Lanka increased by 4.3 per cent year-on-year in the first seven months of this year.

During January-July 2016, Sri Lanka's export earnings from textiles and garments stood at $2.940 billion, compared to $2.818 billion earned in the corresponding period of last year, according to the data released by the Central Bank of Sri Lanka.

Export growth in July mainly came from the EU and non-traditional markets. “Earnings from textiles and garments exports, which account for around 48 per cent of total export earnings, grew by 3.0 per cent year-on-year to $426 million, due to higher garment exports to the EU and non-traditional markets such as Canada, China, Australia and the UAE,” the Central Bank said.

Textiles and apparel accounted for about 63.08 per cent of all industrial exports made by the South Asian nation during the seven-month period.

In 2015, the island nation's export earnings from textiles and garments declined by 2.2 per cent year-on-year to $4.820 billion, compared to $4.929 billion in 2014. (RKS)

Fibre2Fashion News Desk – India

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