Sri Lanka's textile exports up 7.7% in Jan-April '16

03 Aug '16

2 min read

Continuing with the positive trend since the beginning of this year, exports of textiles and garments from Sri Lanka increased by 7.7 per cent year-on-year in the first four months of this year.

During January-April 2016, Sri Lanka's export earnings from textiles and garments stood at $1.709 billion, compared to $1.588 billion earned in the corresponding period of last year, according to the data released by the Central Bank of Sri Lanka.

Export growth in April mainly came from the European Union and the US. “Earnings from textiles and garments exports increased by 3.1 per cent, year-on-year, to $340 million during the month, reflecting increases in garment exports to EU and US markets by 3.7 per cent and 3.1 per cent, respectively,” the Central Bank said.

Textiles and apparel accounted for about 63.36 per cent of all industrial exports and about 49.78 per cent of all exports made by the South Asian nation during the four-month period.

Meanwhile, Sri Lanka's expenditure on import of textiles and textile articles increased by 16.6 per cent year-on-year to $896.8 million during the period under review, the data showed.

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