SL apparel exports fall 4.7% in April

Sri Lanka’s apparel exports declined 4.72% year-on-year to $ 328.15 million in April, from $ 344.40 million a year earlier, as shipments to key traditional markets weakened.

Exports to the UK fell 16.91%, while exports to the EU declined 8.78% and shipments to the US dropped 3.46%. However, exports to other markets grew 12.61% during the month, pointing to some support from non-traditional destinations. For the first four months of this year, total apparel exports fell 7.47% to $ 1.53 billion, reflecting continued pressure across major export markets.

The Joint Apparel Association Forum said the figures showed the need for Sri Lanka to improve competitiveness, reduce costs, strengthen market access, and move faster into higher-value export opportunities.

JAAF said the industry’s long-term position remained intact, but added that breaking the $ 5 billion export barrier would require policy consistency, energy cost reforms, trade facilitation, skills development, and stronger positioning in both traditional and emerging markets.

The apparel sector remains one of Sri Lanka’s main foreign exchange earners, and its recovery is seen as important for the country’s broader export performance.

Source: The morning