According to Sri Lanka’s “Daily Financial Times” report on August 6, industry insiders warned this week that although Sri Lanka’s clothing exports have rebounded in recent months, the entire 2020 clothing Exports are still likely to be $2 billion lower than last year.
Coorassy, secretary-general of the Apparel Association Forum of Sri Lanka (JAAFSL), said that the prospects for the second half of this year are still very bleak. We expect that in the worst case scenario, apparel exports will fall by 40% by the end of the year, to about US$2 billion; in the best case scenario, they will also decrease by US$1.3 billion.
Sri Lanka’s apparel exports in 2019 were US$5.3 billion, an increase of 5.1% over 2018. Before the COVID-19 outbreak, the industry had forecast a 6% growth in exports in 2020. </p
