In August ’20, Sri Lanka upped its apparel exports to the US by 4 per cent in volume terms and shipped 34.90 million SME of garments as compared to 33.56 million SME garments in the same month of 2019, reports Apparel Resources.
However, the values of shipment fell by 3.50 per cent to $143.08 million from August ’19 that indicates the prices are reducing in orders placed by the US buyers in 2020. Unit prices were $4.41 per SME in August ’19 which sharply declined to US $ 4.10 per SME in this year August.
Even in cumulative period January-August ’20, Sri Lanka’s unit prices have shrunk to $4.15 per SME from US $ 4.49 per SME a year earlier in the corresponding period.
It’s worth mentioning here that Sri Lanka shipped $945.47 million worth of garments to USA in first 8-month period of 2020, noting 22.91 per cent decline from a year earlier.
The share of MMF apparels was $522.16 million (down 14.53 per cent) in the total shipped values, while cotton apparel products contributed US $ 395.36 million (down 32.23 per cent) in January-August ’20 period.