SRI LANKA’S CLOTHING SECTOR FACES REVENUE LOSSES THROUGH FINANCIAL CRISIS
June 27th, 2022
Sri Lanka’s clothing sector is “bracing for a 20-25 per cent drop in export earnings” between June to August thereby missing the USD6 billion export target set for 2022, as the country’s unprecedented political and economic crisis continues unabated, the country’s Joint Apparel Association Forum (JAAF) has said.
In terms of the value, this is “nearly a loss of USD125 million per month for the next three months,” JAAF secretary general Yohan Lawrence told Just Style.
A loss of buyers’ confidence in the industry because of the “political ...
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