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Sri Lanka's textile exports up 5.7% in Jan-Sept '18

01
Dec '18

Courtesy: Jason Leung on Unsplash

Sri Lanka’s earnings from textiles and garments exports increased by 5.7 per cent year-on-year to $3.927 billion in the first nine months of 2018, according to the statistics released by the Central Bank of Sri Lanka. Imports of textiles and textile articles were up 4.7 per cent to $2.091 billion, while clothing and accessories imports fell 16.6 per cent to $237.4 million during the nine-month period.

In September 2018, Sri Lanka’s earnings from textiles and garment exports remained positive and the island nation earned $476.2 million from textiles and clothing exports, registering an increase of 10.4 per cent over exports of $431.5 million during the same month of 2017. “Earning from textiles and garments increased in September 2018 reflecting considerable high demand for garments from the US and non-traditional markets such as Canada, India and Japan although a slight reduction was recorded in exports to the EU market,” the central bank said in its report ‘External Sector Performance – September 2018’.

Meanwhile, Sri Lanka’s expenditure on textiles and textile articles increased in September 2018 by 7.6 per cent year-on-year to $233.7 million, whereas clothing and accessories imports were up 2.5 per cent to $22.7 million.

In 2017, Sri Lanka earned $5.031 billion in textiles and apparel exports, registering a growth of 3 per cent year-on-year. Of this, clothing exports alone accounted for $4.739 billion. On the other hand, imports increased by 0.7 per cent to $2.724 billion. (RKS)

Fibre2Fashion News Desk – India