Export earnings from textiles and garments of the island nation of Sri Lanka decreased by 6.2 per cent to $ 428.2 million in March 2015, compared to exports of $456.7 million in the same month last year, shows data released by the Central Bank of Sri Lanka.
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Earnings from textiles and garments exports reflected decline mainly due to significantly higher level of exports recorded in the corresponding month of 2014, said the Economic Research Department of the Central Bank in its press release on external sector performance for the month.
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For the first quarter of 2015, Sri Lanka’s cumulative textiles and garments exports stood at $1.258 billion, showing a drop of 0.5 per cent over exports of $1.264 billion made in the corresponding period of last year.
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Textiles and apparel accounted for about 56 per cent of all industrial exports and about 44 per cent of all exports made by the South Asian nation during the first three months of 2015.
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Last year, Sri Lankan textiles and garments exports increased by 9.4 per cent year-on-year to $4.929 billion. (RKS)
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Fibre2fashion News Desk - India
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