Sri Lanka's textile exports up 9.6% in Jan-June 2019

21 Aug '19

2 min read

Sri Lanka’s earnings from textiles and garments exports increased by 9.6 per cent year-on-year to $2.761 billion in the first six months of 2019, according to the statistics released by the Central Bank of Sri Lanka. Imports of textiles and textile articles were up by 2.5 per cent to $1.394.8 billion, while clothing and accessories imports fell 18.7 per cent to $134.2 million during the six-month period.

In June 2019, Sri Lanka's earnings from textiles and garment exports remained positive and the island nation earned $505.3 million from textiles and clothing exports, registering an increase of 11.4 per cent over exports of $453.5 million during the same month of 2018. “Export earnings from textiles and garments increased by 11.4 per cent in June 2019 benefiting from higher demand for garment exports from both the traditional and non-traditional markets,” the central bank said in its report ‘External Sector Performance – June 2019’.

Meanwhile, Sri Lanka’s expenditure on textiles and textile articles decreased in June 2019 by 1.9 per cent year-on-year to $226.6 million, whereas clothing and accessories imports were down by 25.5 cent to $18.3 million.

In 2018, Sri Lanka earned $5.317 billion in textiles and apparel exports, registering a growth of 5.7 per cent year-on-year. Of this, clothing exports alone accounted for $4.960.8 billion. On the other hand, imports increased by 4.9 per cent to $2.858 billion. (PC)

Fibre2Fashion News Desk – India