Inflation ( CCPI)1.3% (Sep 2023)
GDP-3.1% (2Q 2023)
Unemployment4.7% (1Q 2023)
3M T-Bill Rate17.42%
12M T-Bill Rate13.30%
2Y T-Bond Rate14.60%/ 15.00%
4Y T-Bond Rate14.50% / 14.90%
Reserves $3.60Bn (Aug 2023)
Cum. Trade Deficit $2,930 Mn (Aug 2023 cumulative)
Cum. Fiscal DeficitLKR 1,243 Bn (June 2023)

Apparel exports fell by 18% in Jan 2023 from a year ago

EconomicsFeb 27, 2023
Apparel exports fell by 18% in Jan 2023 from a year ago

Apparel exports are one of the key contributors to Sri Lanka’s foreign currency liquidity. It has grown by 20% in mid-2022 compared to 2021 and recorded a historically highest export figure. But things changed in Jan 2023 as apparel exports fell by 18% due to the recession being experienced in the west.

The total apparel exports were recorded at 10.25% at end of 2022, where exports to the USA grew by 10.5%, to the EU by 9% and the rest of the countries by 15%. In mid-2022, the apparel exports to the USA has recorded a 30% growth, while 13% to 17% growth was recorded in the rest of the regions.


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