Interviews
In the first seven months of 2023, textile exports from the island nation dropped by 4.6 per cent year-on-year, totalling $199.6 million. The exports of other manufactured textile articles were valued at $59.5 million during the same period, a decrease of 18.6 per cent, as detailed in the bank’s report titled ‘External Sector Performance – July 2023’.
Exports of textiles, garments, and other manufactured textile articles collectively made up 53.48 per cent of all industrial exports from Sri Lanka during the reviewed period, the report showed. All textile product exports summed up to $2,889.5 million from January to July 2023, while Sri Lanka's total industrial exports were $5,402 million in the first seven months of the year.
In July 2023, all textile product exports from the country dropped by 22.2 per cent year-on-year, totalling $428.9 million. Category-wise, garment exports decreased by 23.3 per cent to $393.7 million, while textile exports declined by 5.2 per cent to $27.2 million. Exports of other manufactured textile articles fell by 13.9 per cent, amounting to $8.0 million.
On the other hand, imports of textiles and textile articles declined by 27 per cent to $1,391.6 million, while imports of clothing and accessories were down by 34.4 per cent, amounting to $95.1 million during January to July 2023.
Fibre2Fashion News Desk (KUL)
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