With Sri Lanka enjoying the GSP Plus benefits once again the apparel exports revenue increased to US$ 2.395 billion in the first six months of 2018 showing an overall 5% increase. This was US$ 2.281 billion in 2017 first six months.
US was the main market for the first six months with purchases of US$ 1,047 billion showing an 3.77% increase while EU bought Sri Lanka apparels to the tune of US$ 1,027 billion showing a sharp 7.76% growth.
Meanwhile up to June 2018, apparel exporters to EU and US showed positive increase while total exports too increased by 12.1% according to apparel export data. Total export revenue in June 2018 was US$ 427 million. This was US$ 381 million in 2017 June.
Apparel exports is Sri Lanka’s highest foreign exchange earner and the trade war between China and US is also helping to increase appeals exports to USA.
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