Apparel & Textile accumulates USD 5.59 Bn in 2022 | Daily News

Apparel & Textile accumulates USD 5.59 Bn in 2022

Sri Lanka’s apparel and textile exports sector despite several global issues came out with praise worthy performance against the previous year accumulating revenue of USD 5,591.66 million for 2022. This is also the best export revenue figure reported after seven years.

The total exports for 2021 were 5,071.32 million showing an increase in the excess of USD 500 million. The industry, one of the most significant and dynamic contributors to Sri Lanka’s economy, attracted a good global demand for both woven and knitted products. In the Knitted Products segment Sri Lanka bettered 2021 export revenue from USD 3,110.91 million to USD 3,387.07 million.

From the Woven Products Exports Sri Lanka gained a total revenue of USD billion 1,840.37 and bettered it to USD 2,011.18 billion last year. However, other apparel related products saw a decline in revenue from USD 120.04 million in 2021 to USD 108.86 million in 2022.

The country has the highest apparel exports per capita of any exporting nation in the region. The USA and the United Kingdom have historically been the largest buyers of Sri Lankan apparel. Sri Lanka has 350,000 workers, 700,000 dependents and about 300 apparel manufacturers.


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