Home / Knowledge / News / Textiles / Sri Lanka's textile & garment exports surge 47% in Oct'13
Sri Lanka's textile & garment exports surge 47% in Oct'13
23
Dec '13
Sri Lanka’s earnings from textiles and garments exports grew by 46.8 percent year-on-year to US$ 436.4 million in October 2013, which was the highest monthly value of export of garment and textiles ever recorded, according to a Central Bank of Sri Lanka press release. 
 
“Exports of garments to both the EU and USA, which are Sri Lanka’s major export destinations, recorded remarkable growth rates of 53.2 percent and 43.4 percent, respectively in October 2013, reflecting the recovery in those economies as well as seasonal demand,” says the statement.
 
From January to October 2013, Sri Lanka’s overall textiles and apparel exports stood at US$ 3.563 billion, registering a 9 percent increase over exports worth US$ 3.269 billion made during the corresponding period of last year.
 
“Despite the strong growth in export of textiles and garments, there has been a steady decline in imports of textile and textile articles, reflecting improved backward linkages and higher value addition in the garment industry,” the release said.
 
In October 2013, Sri Lanka’s textiles and clothing imports fell by 16.9 percent year-on-year to US$ 186.2 million.
 
During the year through October 2013, Sri Lanka’s total textiles and apparel imports recorded US$ 1.688 billion, showing a dip of 9.6 percent, as against imports of US$ 1.868 billion made during the same 10-month period in 2012, the Central Bank data showed.
 
In 2012, Sri Lanka exported textiles and apparels worth US$ 3.8 billion, and the country has set a target of achieving US$ 4.1 billion in textiles and garment exports this year.
 
Last week, Lakshman Yapa Abeywardena, the country’s new Investment Promotion Minister, told Parliament that there are about 7,000 vacancies in the apparel sector and people with adequate skill sets are yet to be found to fill them.
 

Fibre2fashion News Desk - India


Interviews View All

Manuj Terapanthi, Texaura

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Poonam Naik Desai,

Poonam Naik Desai

Peekaboo is a sustainable, high quality, luxury sleepwear brand providing...

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search