Sri Lanka's apparel exports up 5% YoY to $4.7 bn in 2024: JAAF

25 Jan '25

2 min read

Sri Lanka's apparel exports up 5% YoY to $4.7 bn in 2024: JAAF

Pic: Adobe Stock

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Sri Lanka's apparel exports grew by 5 per cent year on year (YoY) to $4.76 billion last year, according to provisional data released by the Joint Apparel Association Forum.
Such exports to the United States, the European Union (EU) and to the United Kingdom rose by 5.23 per cent YoY to $1.9 billion, 0.81 per cent YoY to $1.4 billion and 7.65 per cent YoY to $675 million respectively last year.

Sri Lanka’s apparel exports grew by 5 per cent year on year (YoY) to $4.76 billion last year, according to provisional data released by the Joint Apparel Association Forum (JAAF).

Such exports to the United States, the European Union (EU) and to the United Kingdom rose by 5.23 per cent YoY to $1.9 billion, 0.81 per cent YoY to $1.4 billion and 7.65 per cent YoY to $675 million respectively last year.

Exports to other countries also rose by 10.13 per cent YoY to $778.4 million in 2024.

Exports performance in 2024 trails the apparel industry’s best years: 2022 saw shipments worth $5.6 billion, 2020 saw $5 billion, and 2019 witnessed $5.3 billion, domestic media outlets reported.

In December last year, the country’s apparel exports grew by a modest 2 per cent YoY to $424 million. Exports to the United States in the month were down by 4 per cent YoY to $167.4 million and to the United Kingdom by 10 per cent YoY to $49 million. However, exports to the EU grew by 9 per cent YoY to $132 million in the month and to other markets by 17 per cent YoY to $76 million.

However, overall December 2024 performance is lower than those in 2021 and 2022.

Fibre2Fashion News Desk (DS)

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