9 July, 2022
The Joint Apparel Association Forum (JAAF) thanked all industry stakeholders for their outstanding resilience in ensuring that the sector continued to meet its commitments in the face of unprecedented challenges, as apparel export earnings expanded by 30 percent Year-on-Year (YoY) up to US$ 446 million in May 2022.
Accounting for approximately 6 percent of Sri Lanka’s Gross Domestic Product (GDP) and almost half of all merchandise exports, the apparel sector serves as a bulwark of the economy. While the sector continues to face significant limitations from continuing disruptions in energy supply and logistics, cumulative export earnings from the sector increased by 16 percent YoY up to US$ 2.2 billion as at May 2022.