Garment exports in the month of August showed an increase after three months of continuous downturn. However, exports to the US, the single largest export destination for Sri Lankan garments, still remained negative.
The latest export data released by the Joint Apparel Association Forum (JAAF), the apparel industry representative body, shows that garment export incomes increased by 8.7% in August this year, compared to August 2008.
However, export incomes from the US, was still 2.5% lower than last year August. Export incomes from the EU on the other hand, increased by 17.0%.
Total export earnings for the year up to end-August, is still 3.5% lower than last year. Overall export incomes from the US dropped by 12.6% during the first eight months of this year compared to last year.
But income from the EU increased by 3.8% during the eight months from January to August. Local apparel exporters meanwhile, expect the sector to gradually recover from October onwards with winter orders coming in and western countries starting to recover from recession. |
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