CBSL observes increase in income from textile imports

CBSL observes increase in income from textile imports

CBSL observes increase in income from textile imports

Written by Bella Dalima

23 Aug, 2014 | 5:57 pm

The Central Bank of Sri Lanka notes that textile exports income rose by 25% in the month of June.

The CBSL points out that a there is a sharp growth in textile exports to both traditional and non traditional markets.Textiles and garments accounted for 45 % of Sri Lankan exports during the month of June and according to the Central Bank it contributed to the increase in overall export income by 50%.

The CBSL notes that textile exports in the month of June brought in 446 million dollars in revenue showed a 25% increase in comparison to the revenue generated in June 2013.

CBSL statistics show that textile exports to Europe and USA which are traditional export markets grew by 3% and 12 % respectively.Textile exports to non traditional markets have grown by 44%.

During the first six months of this year the textiles and garments industry has generated an export income of 2,413 million US dollars and has recorded a 20% growth in comparison to the same period last year.

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