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Prospects for the textile and clothing industry in Sri Lanka, 2022
published in Issue 50, June 2022
The textile and clothing industry in Sri Lanka is of major importance for the country's economy. Textile and clothing exports accounted for almost 43% of Sri Lanka's total exports in 2021, and the industry provided direct employment for about 350,000 people and indirect employment for about 1.0 mn people in support activities. However, these encouraging numbers mask marked differences between the textile industry and the clothing industry. In the textile industry, there has been a sharp decline in the number of manufacturing facilities. In the clothing industry, by contrast, there has been significant expansion over the years, at least in terms of output. Success in clothing has been based on Sri Lanka's growing reputation in international markets as a reliable supplier of competitively priced high quality products, and the establishment of strong and enduring links with Western brands and retailers. Looking ahead, Sri Lanka faces growing competition in Western markets from other Asian suppliers. But there are opportunities for the clothing industry to secure further advances. In particular, Sri Lanka has already made gains in the EU import market following the reinstatement in May 2017 of its GSP+ status under the EU's General Scheme of Preferences (GSP). However, it is uncertain whether the country will continue to benefit from the arrangement from 2023 onwards when it comes up for renewal. More urgently, the industry is likely to be heavily impacted in 2022 from a deepening economic crisis in the country.
|Global Apparel Markets provides intelligence, analysis and insight on the global apparel and fashion industries.|
|What's in it?
Each issue contains data and expert analysis on key industry topics, including: artificial intelligence (AI); augmented reality (AR); consumer expenditure; corporate social responsibility (CSR); cotton; denim; environmental sustainability; fibres; imports and exports; key geographical markets; labour law; product innovations; regulation; retail; sourcing; strategy; supply chains; and trade and trade policy.
A single issue of Global Apparel Markets includes:
practical and strategic advice from an industry expert a report on a key geographical market a round-up of the latest product innovations a feature on trade and trade policy comprehensive coverage of the latest business news
An annual subscription to Global Apparel Markets is a cost-effective way to keep informed about trends and developments in the global apparel and fashion industries. Subscriptions are available in printed and/or digital formats. Printed and digital subscribers receive each issue in printed format in addition to a digital PDF file, which is available immediately on publication. Subscribers also receive a complementary digital subscription to Global Apparel Update, delivered directly by email once a month. This free supplement contains essential information on business news and the latest product developments.
Like all Textiles Intelligence publications, Global Apparel Markets is a reliable source of independently sourced business information, and it does not carry advertising.
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|(Alan J. Saffery; Competitiveness, Private Sector & Economic Growth ; Saffery Consulting) ||