Sri Lanka’s apparel exports grow despite tariff issues
The Morning: Sri Lanka’s apparel exports recorded a strong performance in April, with total exports rising by 15.14% compared to the same month last year, according to the Joint Apparel Association Forum (JAAF).
This growth was driven by robust demand from key markets, including the US (up 6.83%), EU (excluding UK) (up 27.04%), and the UK (up 7.45%).
Exports to other destinations also increased by 21.18%.
Cumulatively, from January to April, total apparel exports reached $ 1.66 billion, reflecting a 12.4% increase over the same period in 2024.
Notably, exports to the EU rose by 18.13%, the US by 10.06%, and other markets by 13.56%, while the UK market grew by 6.26%.
These results reaffirm the resilience and continued competitiveness of Sri Lanka’s apparel industry amid ongoing global challenges. The detailed schedules attached offer further data comparisons over the last five years for reference.
OSL take:
While Sri Lanka’s exports industry is a key revenue generator to the country, apparel exports play a pivotal role in local exports. The resilience and strength of Sri Lanka’s export industry, especially the apparel sector, has been witnessed through the years with local authorities also presenting incentive schemes to attract more investments to the sector. The many trade agreements and trade concessions enjoyed by Sri Lanka with many foreign countries and the promotional programmes conducted in foreign markets have also helped boost the local apparel exports sector. All these developments have resulted in the expansion in business/investment opportunities in Sri Lanka’s overall exports industry with special focus on the apparel sector. The growth, profits and overseas expansion programmes of Sri Lankan businesses already engaged in the apparel exports sector are indicative of the increasing growth and business potential in the sector. Foreign businesses/investors could therefore confidently explore the direct as well as indirect business/investment opportunities emerging in Sri Lanka’s apparel sector. Foreign businesses/investors could also look at expanding operations through the formation of partnerships or joint ventures with local businesses already engaged in Sri Lanka’s apparel exports sector.
| Article Code : | VBS/AT/20250605Z_2 |