Export earnings from the Apparel and Textile sector increased by 17.51 percent year-on-year to $511.13 mn in August 2024 compared to August 2023. Additionally, exports of apparel and textiles to USA increased by 22.56 percent in August 2024 compared to August 2023.
Earnings from the export of Apparel and Textiles have increased by 1.28 percent to $ 3,358.05 mn during the period of January to August 2024 compared to the same period in 2023. This positive sentiment also contributed mainly for the export performance in August 2024 to increase by 3.1 percent compared to July 2024.
Furthermore, exports to the USA, Sri Lanka’s single largest export destination, which absorbs 23 percent of Sri Lanka’s merchandise exports, increased by 19.37 percent to $300.98 mn in August 2024 compared to August 2023. In parallel, exports to the USA in the cumulative period of January to August 2024 increased by 3.58 percent to US$ 1,939.76 million compared to the corresponding periods in 2023.
Exports to the United Kingdom increased by 19.35 percent to $ 86.54 Mn in August 2024 compared to the corresponding month in 2023. Meanwhile, exports to the United Kingdom increased by 7.5 percent to $613.56 mn in the cumulative period of January to August 2024 compared to the corresponding period in 2023.
