Sources from the Sri Lanka Board of Investments say that 25% of Sri Lanka’s garment export revenue is predicted to decrease this year. The reports further say that the reason for this is the decrease in the orders received from Europe.
It is further reported that since the stock of clothing products ordered from Europe last year has yet to be exhausted, the receipt of new orders has been hampered.
Meanwhile, Central Bank data reports that between January and May of this year, compared to the previous year, Sri Lanka’s garment exports decreased by US$ 363.3 million.