Sri Lanka’s garment exports stood at $388.9 million during January 2023, which dipped by 18.8 per cent over the exports of $478.9 million in the same period of the previous year, as per the statistics released by the Central Bank of Sri Lanka. In the first month 2023, this trend was maintained. The economic slowdown caused exports to drop by 8.7% in December 2022.
The island’s textile exports decreased by 1.2% year-on-year, to $27.4million in January 2023. The exports of other made-up textile articles stood at $8.1 million during the same period, down 14.6 per cent, according to the central bank’s report titled ‘External Sector Performance’.
Textiles, garment, and other made-up textile articles’ exports together accounted for 54.28 per cent of all industrial exports from Sri Lanka during the period under review, the report showed. In January 2023 all exports of textile products totaled $424.4 millions, 17.8% less than that shipped in the same time last year.
According to statistics from the Central Bank of Sri Lanka, Sri Lanka’s exports of garments were $388.9 Million in January 2023. This was 18.8 percent less than the $478.9M exports of January 2022. In the first month 2023, this trend was maintained. The economic slowdown caused exports to drop by 8.7% in December 2022.
Imports of textiles and articles fell 31.3 percentage points to $217.5million, while apparel and accessory imports decreased by 20.3 percentage points to $18.2million in January 2023.
Last year, Sri Lanka’s garment exports stood at $5,483.1 million which grew by 10.7 per cent over the exports of $4,951.5 million in 2021. Imports of textiles and articles were $3,065.2 millions, while apparel and accessories imported totaled $215.6million last year.
Fibre2Fashion News Desk (KUL)