Sri Lanka's garment exports up 4% to $3.3 bn in Jan-Sept 2024

From January to September 2024, textile exports from Sri Lanka saw a year-on-year decline of 15.9 per cent, totalling $224.3 million. In the same period, exports of other manufactured textile articles rose by 5.9 per cent, amounting to $80.9 million, as reported in the Central Bank's publication titled External Sector Performance – September 2024.

The combined exports of textiles, garments, and other manufactured textile articles accounted for 50.84 per cent of all industrial exports from Sri Lanka during this period. Total textile product exports amounted to $3,784.1 million between January and September 2024, while Sri Lanka's overall industrial exports were valued at $7,442.2 million for the same period.

In September 2024, textile and garment exports rose by 15.5 per cent year-on-year, reaching $419.3 million. By category, garment exports saw a substantial increase of 19.6 per cent, totalling $389.0 million, while textile exports dropped by 24.1 per cent to $22.2 million. Exports of other manufactured textile articles decreased by 4.8 per cent, reaching $8.2 million.

On the import side, textiles and textile articles saw an 18.2 per cent rise, totalling $2,080.6 million, while imports of clothing and accessories increased by 26.1 per cent, amounting to $156.4 million between January and September 2024. In September 2024 alone, imports of textiles and textile articles rose by 36.6 per cent to $241.3 million, while imports of clothing and accessories surged by 21.5 per cent year-on-year, reaching $18.7 million.

In 2023, Sri Lanka's garment exports were valued at $4,440.6 million, a 19 per cent decrease from the $5,483.1 million exported in 2022. Meanwhile, imports of textiles and textile articles dropped by 22.6 per cent to $2,371.2 million, and imports of clothing and accessories declined by 21.1 per cent, totalling $170 million in 2023.

Fibre2Fashion News Desk (KUL)