Sri Lanka’s RMG exports declined by 20.55 per cent decline to totaling $3.75 billion during the period from January to October 2023, as per data from the Sri Lanka Apparel Exporters Association (SLAEA).
Sri Lanka’s RMG exports to the EU, during the period, declined by 19.15 per cent to $1.14 billion while exports to the United States declined by 24.75 per cent to $1.49 billion.
Together, the EU and the US accounted for 70.33 per cent of the overall shipment values.
On a monthly basis, Sri Lanka’s RMG declined to $330.95 million in October ’23, the worst 10th month for Sri Lanka’s apparel exports in the last five years.
The previous lowest shipment value was recorded in October ’20, the pandemic year, with an export value of $331.14 million.
