In January 2023 textile exports to the island country fell by 1.2 percent year-on–year to $27.4million. 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 totalled $424.4 millions, 17.8% less than that shipped in the same time last year.
The January 2023 exports of Sri Lankan garments totalled $388.9 millions. That’s 18.8% less than January 2022 exports of $478.9million, according to the Central Bank of Sri Lanka statistics. In the first month 2023, this trend was maintained. Due to economic slowdown, exports fell 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. Last year, the import of textiles, articles and textiles was $3,065.2 Million, and that for clothing and accessories, $215.6 Million.
Fibre2Fashion News Desk (KUL)