SRI LANKA’S CLOTHING SECTOR STRUGGLES BACK TO WORK AMIDST TOUGH AND UNEVEN GOVERNMENT COVID-19 HEALTH CONTROLS.
June 2nd, 2020
COVID-19 has taken its toll on Sri Lanka’s textile and clothing sector, with exports forecast to plummet for 2021 (the financial year ending March) from a target of USD5.6 billion, by USD1.7 billion to USD3.9 billion, falling 30% year-on-year for April 2020 to March 2021, the country’s national clothing industry told just-style.
Tuly Cooray, the secretary general of Sri Lanka’s Joint Apparel Association Forum (JAAF) said that this forecast drop in top line revenue will require “a realignment of capacity” – that will see nearly 100,000 job cuts in the ...
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