Sri Lanka’s garment exports dip 4.5% in Jan-May; May shows recovery
During the first five months of ****, textile exports decreased by *.* per cent to $***.* million. Over the same period, exports of other manufactured textile articles eased by *.* per cent to $**.* million, as per the Central Bank’s publication ‘External Sector Performance – May ****’.
Combined exports of textiles, garments, and other manufactured textile articles accounted for **.** per cent of all industrial exports from Sri Lanka during the first five months of this year. Total textile product exports amounted to $*,***.* million between January-May ****, while the country’s overall industrial exports were valued at $*,***.* million over the same period. This underscores the continued dominance of the apparel sector in Sri Lanka’s industrial export base, despite ongoing global demand volatility.
In May ****, textile and garment exports increased by *.* per cent year-on-year to $***.* million. By category, garment exports grew *.* per cent to $***.* million, while textile exports decreased by **.* per cent to $**.* million. During the same month, exports of other manufactured textile articles were down **.* per cent to $*.* million.
On the import side, textiles and textile articles decreased by *.* per cent to $*,***.* million in January-May ****. The imports of clothing and accessories eased by *.* per cent to $***.* million. In May **** alone, imports of textiles and textile articles fell **.* per cent year-on-year to $***.* million, while imports of clothing and accessories dipped by **.* per cent to $**.* million.
