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%
USD/LKR335/341
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Reserves $2.22Bn (Feb 2023)
Cum. Trade Deficit $449Mn (Feb 2023)
Cum. Fiscal DeficitLKR 1,601Bn (Nov 2022)

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
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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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