Sri Lanka’s garment exports rise 4% 2024

During the first nine months of 2024, Sri Lanka’s garment exports reached $3,479.0 million, marking a 4.0 per cent increase compared to the $3,345.5 million recorded during the same period in 2023, according to the Central Bank of Sri Lanka. However, textile exports experienced a year-on-year decline of 15.9 per cent, totaling $224.3 million. In contrast, exports of other manufactured textile articles grew by 5.9 per cent to $80.9 million. Collectively, textiles, garments, and other manufactured textile articles accounted for 50.84 per cent of Sri Lanka’s total industrial exports during this period.

In September 2024 alone, textile and garment exports surged by 15.5 per cent year-on-year to $419.3 million. Garment exports saw a 19.6 per cent increase, reaching $389.0 million, while textile exports dropped by 24.1 per cent to $22.2 million. Meanwhile, imports of textiles and textile articles rose by 18.2 per cent between January and September 2024, amounting to $2,080.6 million, while imports of clothing and accessories grew by 26.1 per cent to $156.4 million. In September 2024, textile and textile article imports further surged by 36.6 per cent to $241.3 million, and clothing and accessories imports rose by 21.5 per cent to $18.7 million.

Comparatively, in 2023, Sri Lanka’s garment exports totaled $4,440.6 million, reflecting a 19 per cent decline from $5,483.1 million in 2022. Imports of textiles and textile articles also fell by 22.6 per cent to $2,371.2 million, while clothing and accessories imports declined by 21.1 per cent, totaling $170 million for the year. Source: Fibre2Fashion News Desk (KUL).