Lanka’s apparel exports tops $ 4.81 bn in 2017
Sri Lanka’s 2017 apparel performance has matched the recent forecast made by the Minister of industry and Commerce-even exceeding the target.
Apparel export revenue data issue by both Joint Apparel Association Forum (JAAF) and Sri Lanka Apparel Exporters Association (SLAEA) confirmed Minister Bathiudeen’s forecast. According to these latest data, the total Sri Lankan apparel exports for 2017 were US $ 4.818 billion (an increase of 3.06% from 2016’s $4.67 billionn). This is the highest annual export revenue to be recorded for Lankan apparels.
Only for the month of December 2017, the exports were at $ 452 million –a 21% increase in comparison to 2016 December’s $374 million. Interestingly, December 2017 monthly exports too were the highest ever exports for any December. 45% of apparel exports in 2017 (at $ 2.163 billion) went to US while 42% (at $ 2.025 billion) headed to the EU.
Year on Year exports to US showed a 2% increase in 2017 from 2016’s $2.121 billion. Still, YoY exports to EU surged by a larger 4.13% to $ 2.02 billlion in 2017, from 2016’s $1.944 billion.