Sri Lanka’s textiles and apparels (T&A) exports declined by 18.84 per cent to $4.42 billion during the period between January-November 2023.

The country’s total earnings from garments exports declined by 20 per cent during the first eleven months of 2023. Textile  exports too slowed to t 4.84 percent as against the same period in 2022.

Hit by a slowdown in consumer spending, Sri Lanka’s clothing exports further suffered from the rising inflation in the US and EU markets. The exports also reeled under the impact the Russia-Ukraine war and the ongoing Israel-Hamas war that continue affect textiles and garments exports from most Asian countries including Sri Lanka