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Textile and garment exports up 5.7% to US $ 5.3bn in 2018

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18 March 2019 10:02 am - 0     - {{hitsCtrl.values.hits}}

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Sri Lanka’s textile and garment exports rose 5.7 percent year-on-year (YoY) to little over US $ 5.3 billion, the external sector data released by the Central 
Bank showed.


In the month of December 2018, textile and garment exports rose 5 percent YoY to US $ 493.4 million.


The Central Bank said higher demand from the United States and the European Union (EU) supported the increase in apparel export earnings.

Sri Lanka enjoys duty-free access to the EU market under GSP Plus concessions. 


Garment exports alone rose 4.7 percent YoY to US$ 4.96 billion. 


However, according to the Joint Apparel Association Forum (JAAF)—the apparel sector industry association figures, apparel exports topped the US $ 5 billion mark to US $ 5.05 billion. 


Meanwhile, Sri Lanka imported US $ 2.85 billion worth of textiles and textile articles in 2018, an increase of 4.9 percent YoY.

 

 


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