As the per recent SLAEA data, Sri Lanka’s apparel exports grew by 2.8 percent to $459 million in November 2019 due to an increase in production capacity and re-routing of supply chains amid the US-China trade war. Its total apparel exports from January to November 2019 grew by 5.8 percent to $4.85 billion.

Sri Lanka’s total apparel exports to the EU grew by 10.99 percent to $191.0 million in November 2019 compared to the same period in 2018. The total exports to EU from January to November in 2019 grew by 5.7 per cent to $2.03 billion. These exports increased on account of the continued leverage of GSP Plus preferential tariff benefits and market certainty with Brexit coming to a conclusion.

However, the country’s exports to the US declined by 4.8 per cent to $208 million in November 2019. This decline was mainly on account of a continuous slowdown in sales of Victoria Secret, which is a large customer of Sri Lanka. Victoria’s Secret posted a 7 percent fall in same-store sales in the US and Canada in the third quarter ending November 02. Its parent company L Brands posted a loss of $0.91 per share, dragged down by Victoria’s Secret’s performance.