According to statistics from the Economic Research Department of the Central Bank of Sri Lanka, in December 2013, Sri Lanka’s textile and clothing exports were US$454 million, a year-on-year increase of 26.9%. Data show that the rapid growth in exports is mainly driven by the EU and US markets. In December 2013, Sri Lanka’s textile exports to the EU increased by 24.9%, and exports to the United States increased by 35.6%.
In 2013, Sri Lanka’s overall textile and apparel exports were US$4.508 billion, an increase of 13% compared with 2012. While textile and apparel exports have shown rapid growth, Sri Lanka’s textile and apparel imports have declined, mainly due to factors such as the improvement of domestic apparel and related industries to high added value. In December 2013, Sri Lanka’s textile and apparel imports amounted to US$174 million, a year-on-year decrease of 10.2%. For the whole of 2013, Sri Lanka’s textile and apparel imports were US$2.045 billion, a year-on-year decrease of 9.7%.
