Sri Lanka exported 10.457 million units of shirts to the US in the first eight months of this year, as per Fibre2Fashion's market insight tool TexPro.
The average price fell by 10.13 per cent to $8.96 in 2024 compared to the average price in 2023, which was $9.97 per unit. This decrease highlights challenges for Sri Lankan exporters amid reduced demand from US brands and retailers. The price had previously decreased by 2.06 per cent in 2023, down from $10.18 per unit in 2022.
Historically, average prices have experienced significant fluctuations due to various market disruptions. Prices were recorded at $8.31 per unit in 2019, increasing to $7.97 in 2020, then plummeting to $3.93 per unit in the COVID-impacted year of 2021. In 2022, the average price surged nearly 150 per cent to $10.18 per unit, as reported by TexPro.
Sri Lanka’s shirt exports to the US were valued at $156.143 million in 2023, marking a 29.48 per cent decline from $202.438 million in 2022. In previous years, export values were recorded at $122.701 million in 2021, $127.045 million in 2020, and $249.776 million in 2019.
In terms of volume, Sri Lanka exported 15.658 million units of shirts in 2023, compared to 19.894 million units in 2022, 31.249 million in 2021, 15.944 million in 2020, and 30.074 million in 2019.
ALCHEMPro News Desk (KUL)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
