With Sri Lanka’s apparel exports expanding by 7.7% last March, revenue in the first quarter of the year (1Q24) has reportedly crossed the $1 billion mark.
As a whole, with increased demand in the European market and the United Kingdom, the income earned from garment exports rose to US$ 418 million in March.
According to data from the Joint Apparel Association Forum (JAAF), exports to the EU, excluding exports to the UK, grew by 5.62%. Meanwhile, the amount of apparel exported to the UK has increased significantly by 11.93%.
Sri Lanka’s apparel sector is expected to generate revenue of US$ 4.5 billion in 2024.