Sri Lanka has clocked US $ 5.07 billion revenues from its apparel exports during 2021, as per official data released recently.
The country upped its shipment by 21.87 per cent from 2020; however, the values couldn’t cross the pre-pandemic level (2019) when it shipped US $ 5.31 billion worth of garments.
Particularly in December ’21, Sri Lankan apparel industry recorded US $ 493.90 million in export revenue that represents a 16 per cent Y-o-Y growth.
According to Sri Lanka Apparel Exporters Association, though 2021 figures are still lower than the pre-pandemic values, the trajectory over the course of the last few months of 2021 shows Sri Lanka’s apparel exports are well on the path towards recovery.
Of total apparel shipment of Sri Lanka in 2021, USA contributed US $ 2.11 billion, growing by 17.87 per cent, while the export to EU valued US $ 2.21 billion, increasing by around 23.50 per cent on Y-o-Y basis.
It’s worth noting here that USA and EU collectively accommodated over 85 per cent of Sri Lanka’s apparel export values in 2021.
