Sri Lanka’s overall export value, including direct textile exports, surpassed $5 billion in 2024, reflecting the sector’s resilience amid local and global challenges, according to JAAF.
Although 2024’s apparel exports show a 10.3% shortfall compared to the pre-pandemic benchmark of $5.3 billion in 2019, strategic efforts are needed to recover lost momentum and exceed pre-crisis growth levels.
The apparel sector has demonstrated resilience over the past five years, recovering from the pandemic-induced 22% decline in exports in 2020, when figures dropped to $4.1 billion.
After a temporary peak in 2022 driven by overestimated post-Covid recovery expectations, the industry faced inflationary pressures and reduced consumer spending in 2023, impacting growth.
Despite pricing challenges in 2024, key market trends signal positive developments, highlighting Sri Lanka’s potential for long-term recovery and growth in apparel exports.
