Sri Lanka’s garment exports have fallen sharply in 2010

Sri Lanka Garment Purchasing Persons Association (SLGBOA) said recently that due to the cancellation of the export tariff preferences for Sri Lankan garments in the EU market and Sri Lanka’s decline in garment exports to the United States, the clothing exports in Sri Lanka in 2010 will be significantly lower than in 2009. It is reported that Sri Lanka's clothing exports to the EU and the US market accounted for 94.5% of its total garment exports. In January-August 2010, exports of Sri Lankan garments to the United States fell by 4.6% to US$833 million; exports to the EU market were likely to decline by about 10%.