Sri Lankan apparel exports have seen a sharp increase in 2018 with apparel export revenue increasing by 10% to US $ 447mn in November 2018.
The cumulative apparel exports to the U.S. from January to November increased 5.61% YoY, surpassing US $2 billion while the exports to the EU increased 4.13% YoY to US $1.9 billion. Overall exports to other countries too increased 5.11 percent YoY.
As the apparel export growth picked up pace in November last year, the apparel industry expects to surpass the US $5 billion mark in 2018 for the first time, recording the best growth in apparel exports since 2013.
Apparel earnings are tipped to reach the US $5 billion target in 2018.
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