Sri Lanka’s garment exports grew by 15 per cent during January 2022 to October 2022.

During the same period, textile exports from the island nation increased by four per cent year on year (YoY). However, exports of other made-up textile articles fell by seven per cent. Exports of textiles, garment, and other made-up textile articles together accounted for 56 per cent of all industrial exports from Sri Lanka during the period under review. Exports of all textile products from January 2022 to October 2022 were 14 per cent higher than shipments during the same period last year.

In October 2022, garment and textile exports from the South Asian nation fell by 13 per cent YoY. Garment exports decreased by 12 per cent while textile exports fell five per cent. Exports of other made-up textile articles were down by 39 per cent. On the other hand, imports of textiles and textile articles rose by six per cent while clothing and accessories imports were up by four per cent during January 2022 to October 2022.

But despite impressive exports so far in 2022 the industry envisages a 25 per cent to 30 per cent decline in the remainder of the year. This is mainly due to the economic downturn’s impact on future orders from the US and EU, while the war in Ukraine has pushed up logistics and energy costs.