The export earnings of Sri Lanka from its textile and garments sector that contribute nearly 48 per cent to its total export revenue has declined for the third consecutive month by 12.8 per cent in December 2015, when its overall exports declined by 18.7 per cent, year-on-year, to US $817 million.
This figure is mostly a reflection of its low exports to both the EU and USA markets.
Garment exports to non-traditional markets like Canada, China and UAE has, however, increased by 1.7 per cent, year-on-year, during the month. These figures were released by the Central Bank of Sri Lanka in its recent release of External Sector Performance statistics for December 2015.
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The overall trade performance for the year 2015 decreased by 5.6 per cent to US$10,505 million, owing to subdued global demand and lower commodity prices. The leading markets for merchandise exports of Sri Lanka during 2015 continued to be the US, UK, India, Germany and Italy, accounting for about 51 per cent of total exports.
Bharat Tex Special Report 2026 
