Before October Sri Lanka Clothing Exports Surged 45%

Abe Co Na, President of Sri Lanka apparel exporters association (SLAEA), said that despite the global recession affecting the global clothing consumer market, Sri Lanka's clothing export industry performed well. In January ~10, clothing exports in Sri Lanka increased by 45% over the same period last year.

The clothing Exporters Association expects that exports of clothing in Sri Lanka are expected to exceed US $4 billion this year.

It is understood that at present, China accounts for 35% of the total world garment trade, while Sri Lanka only accounts for 1%.

Abe Co Na pointed out that although Sri Lanka's share of clothing exports is very small, Sri Lanka still has a lot of room to promote clothing exports, because European and American clothing importers are developing strategic plans for developing new sourcing destinations, and Sri Lanka garment industry has the opportunity to win more market share.

Abe Co Na believes that if the current growth momentum, by 2015, Sri Lanka clothing will achieve export target of $5 billion.

He added that at present, the main obstacle to development of Sri Lanka's textile industry is energy costs, such as electricity prices.

In recent months, the price of clothing in Sri Lanka has almost risen by 25%~40%.

In addition, the shortage of labour will be another constraint. If the clothing industry is to achieve the export target of US $5 billion in 2015, the government of Sri Lanka must find an effective way to solve this problem.