Sri Lanka’s earnings from textiles and garments exports increased by 21.9 per cent year-on-year to $2.941 billion during the first seven months of 2021, according to the statistics released by the Central Bank of Sri Lanka. Exports of textiles increased 39.1 per cent to $184.2 million, while garment exports were up 25.5 per cent to $2.683 billion.

Exports of other made-up textile articles fetched $74.4 million, registering a decrease of 47.7 per cent year-on-year, the central bank said in its report ‘External Sector Performance – July 2021’.

Textiles and garments exports accounted for 56.17 per cent of all industrial exports from Sri Lanka during the seven-month period, the report said.

Imports of textiles and textile articles too rose by 34.8 per cent to $1.702 billion, while clothing and accessories imports fell 3.4 per cent to $120.2 million during January-July 2021.

In July 2021, Sri Lanka’s earnings from textiles and garment exports fell 3.2 per cent to $454.1 million, compared to exports of $469.2 million in the same month of 2020. Expenditure on textiles and textile articles shot up by 27.4 per cent year-on-year to $251.2 million, while clothing and accessories imports were up 10.8 per cent to $14.9 million.

In 2020, Sri Lanka's textiles and garment exports stood at $4.423 billion, registering a steep fall of 21 per cent compared to exports of $5.596 billion in the preceding year. Of this, clothing exports fetched $3.939 billion, a fall of 24.3 per cent over $5.205 billion in 2019. On the other hand, imports of textiles and textile articles decreased by 19.7 per cent to $2.335 billion.

Fibre2Fashion News Desk (RKS)

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