During the same period, textile exports from the island nation increased by 4.9 per cent year-on-year to $299.4 million. However, exports of other made-up textile articles stood at $98.5 million during January-October 2022, registering a negative growth of 7.9 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 56.91 per cent of all industrial exports from Sri Lanka during the period under review, the report showed. The exports of all textile products totalled at $5,020.7 million in January-October 2022 which was 14 per cent higher than the shipment during the same period last year.
Sri Lanka’s garment exports stood at $4,622.7 million during January-October 2022 which grew by 15.2 per cent over the exports of $4,011.3 million in the same period of the previous year, as per statistics released by the Central Bank of Sri Lanka. Its garment exports dropped by 12.9 per cent in October 2022 due to the slowdown in the world economy.
In October 2022, garment and textile exports from the South Asian nation declined by 13.1 per cent year-on-year to reach at $443.5 million. Category-wise, garment exports decreased by 12.9 per cent to $406.8 million, while textile exports fell 5.8 per cent to $28.9 million. The exports of other made-up textile articles were down by 39.1 per cent to $7.8 million.
On the other hand, imports of textiles and textile articles rose by 6.7 per cent to $2,637.8 million, while clothing and accessories imports were up by 4.3 per cent to $184.2 million during January-October 2022.
Fibre2Fashion News Desk (KUL)
