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Earnings from garment exports rise sans GSP facility

Mar 10, 2011 10:57:55 AM - itnnews.lk

Apparel export earnings have increased by 6.6 percent after the withdrawal of the GSP facility. Chairman of the Sri Lanka Export Development Board Janaka Ratnayake said the withdrawal of this facility has not had an impact on the economy.



Mr. Ratnayake said that when taking into consideration the three months that had passed after the withdrawal of this facility, there was some setback in August. But in the four months from September to December there was a massive growth in exports. It was about 30 percent. Although they expected a negative growth, there was a sufficient growth of 6.6 percent in the apparel sector alone. There was a growth of about 30 percent in exports to the United States alone. There was also a marginal increase to Europe. In January there was a sufficient growth in exports.

The Export Development Board Chairman was addressing a news conference in Colombo. It was summoned to brief the media on the Expo Bazzar Export Trade Fair Exhibition 2011, which will be held at Green Path in Colombo from the 8th to the 10th of April.