SRI LANKA’S TEXTILE AND KNITWEAR SECTORS MAINTAIN MOMENTUM, BUT MEDIUM-TERM OUTLOOK IS CHALLENGING
July 30th, 2022
Sri Lanka’s unprecedented economic and political crisis escalated early this week (July 9) amidst mass public protests forcing the country’s now former President Gotabaya Rajapaksa to flee the country to Maldives, before finally quitting the top job yesterday. Notwithstanding the chaos, its textile and knitwear and woven apparel sector has so far managed to keep the industry afloat so far. Nevertheless, it is revising its initial USD6 billion export target to around USD5.5 billion for 2022.
What “stands in the industry’s favour is the fact that textile ...
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