Garment exports from Sri Lanka fell by 18.8 per cent in January 2023, standing at US $ 388.9 million as compared to US $ 478.9 million in the same period of the previous year, according to statistics released by the Central Bank of Sri Lanka. In December 2022 exports had dropped by 8.7 per cent due to the economic slowdown.
Textile exports in January 2023 fell by 1.2 per cent year-on-year to $27.4 million. According to the central bank’s report titled ‘External Sector Performance’, exports of other made-up textile articles went down 14.6 per cent and stood at US $ 8.1 million.
Around 54.28 per cent of all industrial exports from Sri Lanka consisted of Textiles, garment, and other made-up textile articles’ exports during the period, according to the report. The exports of all textile products were lower by 17.8 per cent than the same period last year and totalled US $ 424.4 million in January 2023.
On the other hand, imports of textiles and textile articles dropped by 31.3 per cent to $217.5 million, while clothing and accessories imports went down by 20.3 per cent to $18.2 million during January 2023.
The imports of textiles and textile articles, however, fell by 31.3 per cent to US $ 217.5 million, while imports of clothing and accessories stood at US $ 18.2 million, a decrease of 203 per cent during January 2023.
