Sri Lanka’s exports crossed the $5-billion mark in the first five months of this year. Earnings from the merchandise exports increased by 9.9 per cent year-on-year to $980.2 million in May 2022. The earnings from export of Apparel & Textiles, Coconut based products and Electrical & Electronic Components increased significantly.
Textiles and apparel exports increased by 30.1 per cent y-o-y to $482.7 million in May 2022. The export to the US, Sri Lanka’s single largest export destination, increased by 25.02 per cent y-o-y to $266.42 million.
The cumulative textile and apparel exports during January-May 2022 increased by 16.3 per cent y-o-y to $2,400.6 million.
In 2021, 42.06 per cent of $4.973 billion apparel exported by Sri Lanka were destined to the US, according to Fibre2Fashion’s market insight tool TexPro.
ALCHEMPro News Desk (KUL)
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