Inflation ( CCPI)50.6% (Feb 2023)
GDP-12.4% (4Q 2022)
Unemployment5.0% (3Q 2022)
3M T-Bill Rate25.99%
12M T-Bill Rate24.31%
5Y T-Bond Rate27.00%/ 27.25%
10Y T-Bond Rate22.00% / 23.00%
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Reserves $2.22Bn (Feb 2023)
Cum. Trade Deficit $449Mn (Feb 2023)
Cum. Fiscal DeficitLKR 1,601Bn (Nov 2022)

Apparel Sector generated a little over USD 5.5 Bn FX inflows in 2022

EconomicsJan 29, 2023
Apparel Sector generated a little over USD 5.5 Bn FX inflows in 2022
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Apparel is one of the key sectors that contribute FX inflows to the country. It surpassed the USD 5Bn milestone in 2018, since then the country was only able improve it by USD 500Mn. From 4th quarter of 2022, the growth has been subdued.

Recession and high inflation have slowed down the demand from the west, which most of Sri Lanka’s apparel depends on. Global PMI indexes are still struggling to find the growth momentum increasing the deep recession.


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