Sri Lanka's fabric imports drop in May, impact of economic crisis

07 Jul 22 1 min read

Fabric imports by Sri Lanka declined in May 2022, compared to January i.e., before the onset of the current economic crisis gripping the country. The island nation needs to import fabric to keep its garment manufacturing and export running. Garment exports bring the much-needed foreign currency for the country, especially during the current crisis period.

Sri Lanka’s fabric import dropped from $233.85 million in January 2022 to $183.21 million in May 2022, according to Fibre2Fashion’s market insight tool TexPro.

China, India, and Taiwan were the top three fabric suppliers for the country during the first five months of this year. China’s export volume to Sri Lanka dropped from $95.04 million in January 2022 to $67.15 million in May. Likewise, India’s export volume decreased from $58.10 million in January to $46.57 million in May 2022, and Taiwan’s from $26.20 million to $14.85 million, as per TexPro.

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Fibre2Fashion News Desk (KUL)

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