Sri Lanka’s apparel exports have grown by 5.60 per cent to US $ 3.96 billion from January to October 2024, according to the latest data from Sri Lanka Apparel Exporters Association (SLAEA).
The numbers show stable growth for the Sri Lanka apparel industry despite global trade challenges.
However, as per an analysis done by team Apparel Resources, Sri Lanka’s apparel exports which peaked at US $ 4.71 billion in 2022 have not yet surpassed the previous high.
In 2024, knitted products have again topped the table, accounting for over 60 per cent of the total export value this year. The data shows a rebound in knitted apparel exports to US $ 2.39 billion in 2024 till October from US $ 2.24 billion in January to October 2023.
On the other hand, Sri Lanka’s woven exports reached US $ 1.49 billion by January – October 2024, up 4.22 per cent Y-o-Y. Though small in value compared to knits and woven apparel, other products contributed US $ 85.50 million to the country’s apparel export value in 10 months of 2024.
USA was the top destination for Sri Lanka with US $ 1.59 billion worth of apparel shipment in January to October 2024, while the shipment to EU was US $ 1.15 billion.
