Sri Lanka's apparel exports to EU reach $417 mn in Jan-Apr 2024

According to Fibre2Fashion's market insight tool TexPro, the island country exported apparel worth $1,361.792 million in 2023. This shipment value dipped by 17.76 per cent from the $1,655.538 million recorded in 2022.

Like other apparel-exporting countries, Sri Lankan garment exports peaked in 2022 over the last six years. Following COVID-related disruptions in 2020 and 2021, global garment and textile demand reached its peak.

Sri Lanka’s garment exports to the EU were noted at $1,406.757 million in 2019. This figure dipped to $1,186.605 million in 2020 due to lockdowns and restrictions. After the easing of COVID protocols, shipments bounced back to $1,497.096 million in 2021, further increasing to $1,655.538 million in 2022.

According to TexPro, Sri Lanka’s total garment exports to the world amounted to $1,441.060 million in the first four months of this year. Therefore, the EU accounts for 28.93 per cent of this total. Garment exports to the entire Europe were around $650 million in the same period, which was approximately 45 per cent of the total.

Sri Lanka’s total garment exports amounted to $4,445.927 million in 2023, down from their peak of $5,512.597 million in 2022. In previous years, exports were recorded at $4,973.962 million in 2021, $3,943.156 million in 2020, and $5,210.227 million in 2019.

Fibre2Fashion News Desk (KUL)