Apparel sector revenue totals US$ 1.17 bn in 1Q24
Sri Lanka, April 29 -- Sri Lanka's apparel industry saw its revenue cross the US$ 1 billion mark in the first quarter (1Q24) with exports expanding by 7.7 percent in March.
Apparel exports fetched revenue of US$ 418 million in March, with an improved performance seen in Europe (EU) and the United Kingdom.
Data shared by the Joint Apparel Association Forum (JAAF) showed that while exports to the United States (US) decreased by 2.81 percent, exports to the EU (excluding exports to UK) have grown by 5.62 percent, and exports to the UK have increased by 11.93 percent.
Exports to other countries have recorded an increase by 34.26 percent Year-on-Year (YoY).
Meanwhile, total exports during the three months from January to March 2024 contrac...
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