Sri Lanka’s apparel and textile exports grow .%
Sri Lanka’s clothing and textile exports in 2021 increased by 22.93% compared with the same period, reaching US$5.415 billion. Although apparel exports increased by 25.7%, exports of woven fabrics increased significantly by 99.84%. Among them, exports to the UK surged by 15.22%.
Sri Lanka Export Development Board (EDB), according to provisional data released by the National Bureau of Statistics, clothing and textile export revenue in December 2021 increased by 17.88% over the same period to reach 531.05 million USD, of which 17.56% is clothing and 86.18% woven fabrics, with strong export performance.
Sri Lanka’s exports in 2021 were worth US$15.12 billion. When the data was released, the country’s Trade Minister appreciated the exporters’ contribution to the economy, although they must deal with unprecedented economic conditions. and assured it of more support in 2022 to reach the US$20 billion target.
At the 2021 Sri Lanka Economic Summit organized by the Ceylon Chamber of Commerce (CCC) in December 2021, Hirdaramani Group Director Aroon Hirdaramani said: “The goal of the Sri Lankan garment industry is to By increasing investment in the local supply chain, the export value can reach US$8 billion by 2025. Due to the origin standards, only about half of Sri Lanka’s garment exports comply with the general preferential tariff (GSP+). This standard involves whether the garments are fully sourced from Countries applying for preferences.”
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