Sri Lankan garment industry mainly caters to the USA and the European Union. These countries are under a second lockdown which is now interfering with the Sri Lankan exports as the demand for the exports coming in from Sri Lanka has been deteriorated due to the second lockdown in the west. According to records, from May until November that monthly Sri Lankan exportations of clothing rapidly grew to previous year peaks within a month after the first lock-down wave came to an end.
The export of Sri Lanka apparel was 403.7 million dollars in June and doubled from May, rising further by just 1.4% in the same month in 2019 and by 469.2 million dollars in July. The momentum stood at 11.9% and 3.7%, respectively, in August and September, with sales reported at $440 million and $433.7 million, compared with the same months in 2019.
The Sri Lankan market detected these changes and felt the looming pressure when lockdowns began in the US, the UK and the European Union, which together account for half of the overall exports. The exports to Sri Lanka for garments dropped by $358.2 million in October and November and by $324.9 million in the same span of two months in 2019, raising the difference from 18.9 to 32.8% respectively.
