“Textiles and garment exports increased as a result of high demand for garments from the EU and the US as well as non-traditional markets such as India, Japan, Australia, China and Canada,” the central bank said in its report ‘External Sector Performance – January 2019’.

Imports of textiles and textile articles were up 7 per cent to $262.5 million, while clothing and accessories imports fell 24.4 per cent to $28.4 million during the one-month period. “Import expenditure on textiles and textile articles increased, driven by fabric imports,” the central bank report said.

Sri Lanka’s earnings from textiles and garments exports increased by 5.7 per cent year-on-year to $5.317 billion in 2018. Imports of textiles and textile articles were up 4.9 per cent to $2.858 billion, while clothing and accessories imports fell 15.9 per cent to $310.3 million during the twelve-month period. (PC)

Fibre2Fashion News Desk – India

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