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Apparel sector ends 2024 with US$ 4.7 bn export earnings
Sri Lanka’s export earnings from apparel in 2024 reached US$ 4.7 billion, recording a year-on-year growth of nearly 5 percent YoY.
Exports to the US, Sri Lanka’s largest destination, grew by 5.23 percent year-on-year to US$ 1.9 billion in 2024. Despite this, the figure remains 19.4 percent below 2019 levels, emphasising the potential to regain further ground.
Growth in exports to the UK was robust at 7.65 percent, now nearing parity with 2019 levels, aided by sustained demand for ethically and sustainably manufactured garments. While growth in the EU was modest at 0.81 percent, the sector has maintained a foothold in a highly competitive and increasingly regulated market.
Exports to other destinations grew by 10.13 percent, demonstrating both new market penetration, and the trend for the industry to label, pack and ship direct to third countries on behalf of the buyers, JAAF said.
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