SRI LANKA’S APPAREL SECTOR: CONTINUITY AMID CHAOS, BUT LONGER-TERM OUTLOOK THREATENED
July 30th, 2022
The rapid escalation of Sri Lanka’s political and economic crisis, causing its former President Gotabaya Rajapaksa to flee the country and resign, has had far-reaching implications for the country’s clothing and textile manufacturing sector, which plays a crucial role in the nation’s economy. Indeed, textiles and clothing accounted for 31.55% in value added via manufacturing during 2019, according to the World Bank.
Ranil Wickremesinghe is currently acting President, but under pressure to step aside given his past association with President ...
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