June 17, 2024

Sri Lankan Apparel Exports Increase 7.72% In March 2024

Sri Lanka’s apparel exports stood at US $418.33 million in March 2024, an increase of 7.72 percent over the same month of previous year.

March’s performance represents the highest monthly export earnings since reaching $442.6 million in December 2022 and the highest level so far in 2024.

Exports to the US declined by 2.81 percent year on year in March to $147.75 million and exports to the European Union grew 5.62 percent to $124 million and to UK rose 11.93 percent to $66 million.

In the first quarter of 2024, clothing exports crossed the US $1 billion mark to reach $1.17 billion. However, there was a slight dip of 0.7 percent as against the same quarter of 2023.

In the first three months of 2024, garment exports to US dropped 5.11 percent to $446 million, while those to the EU fell slower at 1.5 percent to $339 million, but grew 9 percent to $183 million to UK.

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