Ongoing economic crisis in Sri Lanka is interrupting business activities in the country. As per an Apparel Resources report , the Sri Lankan apparel industry is facing fuel and gas shortages, raising concerns over the industry’s ability to continue operations due to the prevailing challenge. It may take some time for the situation in Sri Lanka to normalize. Till then, apparel exports are likely to remain impacted.

Statistics released by Sri Lanka Apparel Exporters Association show, the nation’s apparel export revenues grew 11.54 per cent Y-o-Y to $ 468.12 million during February ’22. This was the highest exports revenues achieved by Sri Lanka in the last six years. In January too, the country registered the most export revenues generated in the first month of the calendar year in the last six year. The country had shipped $487.60 million worth apparel products during the month. Of total value, export revenues from the US grew 19.22 per cent Y-o-Y to $205.25 million. On the other hand, export revenues from the EU grew by 2.80 per cent to $130.81 million over February ’21.