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| Monday, 08 November 2004 |
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Textile and apparel sector secures 50% of country's total earnings Sri Lanka Garment Buying Offices Association has undertaken a series of research studies on the Apparel industry which aimed at educating all stakeholders in the industry and to get the focus of the government to initiate all possible action to sustain the industry in the quota free era - Post 2005. Following is the research study carried out by the Association on the structure of the Apparel Industry in Sri Lanka. Textile and Apparel Sector continued to maintain its dominant position in the Industrial Sectors by contributing around 43% of industrial production and 50% of country's total export earnings. Apparel accounts for 93% of Textile and Apparel Exports. Since 1986, apparels become the number one foreign exchange earner and largest single employer in the manufacturing sector providing direct employment opportunities for 340,000 persons. Exports of apparel during the year 2003 were US$ 2,400 mn. and US$ 1,145 mn. during the first half of 2004 and up by 6% over same period of last year. Industry is heavily dependent on imported inputs mainly fabrics and other accessories. Textile sector imports during 2003 were US$ 1,372 mn of which fabrics accounted for US$ 1,014 mn. Sri Lanka major apparel markets are USA and UK and both these countries import around 82% of Sri Lanka's total apparel exports. The strengths of the industry are generous tax concessions, incentives and comparatively cheaper educated and trainable labour and its weaknesses are absence of indigenous fabric base, lower productivity, lack of designing capabilities, concentration on very few markets and lack of direct marketing links with major buyers. There were 586 exporters of woven garments during the year 2003 and their exports were US$ 1,578 mn. Extra-large category accounted for 71% of exports with 13% of exporters. The Large category accounted for 23% of exports with 24% of exporters and the Small and Medium category accounted for 6% of exports with 63% of exporters. (To be continued next week) |
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