As per statistics released by the Central Bank of Sri Lanka, Sri Lanka’s earnings from textiles and garments exports increased by 21.9 percent year on year to $2.941 billion in the first seven months of 2021. Textile exports have increased 39.1% to $184.2 million, while garment exports increased 25.5% to $2.683 billion.

Export markets of other manufactured textile articles totaled $74.4 million, a 47.7 percent reduce year on year, according to the central bank’s report ‘External Sector Performance – July 2021.’

According to the report, textile and garment exports accounted for 56.17 percent of all industrial exports from Sri Lanka during the seven-month period.

Imports of textiles and textile articles increased by 34.8 percent to $1.702 billion, while imports of clothing and accessories decreased by 3.4 percent to $120.2 million from January to July 2021.

Sri Lanka’s textile and garment export earnings fell 3.2% to $454.1 million in July 2021, compared to $469.2 million in the same month in 2020. Textile and textile section spending increased by 27.4% year on year to $251.2 million, while clothing and accessories imports increased by 10.8% to $14.9 million.

Sri Lanka’s textile and garment exports stood at $4.423 billion in 2020, a 21% decrease from the previous year’s exports of $5.596 billion. Clothing exports accounted for $3.939 billion, a decrease of 24.3% from $5.205 billion in 2019. Imports of textiles and textile articles, on either hand, fell 19.7 percent to $2.335 billion.