Garment industry collapsing drastically
Dhammika Fernando, General Secretary of the Free Trade Zone Investors Association, has revealed to the media that the amount of garment orders received in Sri Lanka from abroad has decreased by about 30%.
The garment industry is the leading sector where the country has earned US$ 4,577 million in foreign exchange in the first nine months of this year. Also, the country earned US$ 3,893 million in foreign exchange in the first nine months of last year. The secretary of the federation has pointed out that investors who run garment factories that have earned foreign exchange in this way are leaving this country and migrating to many other countries.
As such, relevant orders are being shifted to Bangladesh, Cambodia, Ethiopia, Myanmar, Laos and Vietnam.
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