Sri Lanka's textile exports up 11.8% in Jan-Feb '16

08 Jun '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 11.8 per cent year-on-year in the first two months of this year.

During January-February 2016, Sri Lanka's export earnings from textiles and garments stood at $927.5 million, compared to $829.7 million earned in the corresponding period of last year, according to the data released by the Central Bank of Sri Lanka.

Export growth in February mainly came from the European Union and the US, where garment exports increased by 11.7 per cent and 8.7 per cent, respectively, the Central Bank said.

Textiles and apparel accounted for about 65.59 per cent of all industrial exports and about 52.03 per cent of all exports made by the South Asian nation during the two-month period.

Meanwhile, Sri Lanka's expenditure on import of textiles and textile articles increased by 15.8 per cent year-on-year to $475.9 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