Speaking at a seminar titled, “Insight to efficiency optimization” to elevate the Sri Lankan garment industry to meet the global competition, the treasury secretary, Mr Jayasundara said the apparel industry of the country has consolidated with the economy.
Out of overall exports of US $7.2 billion the garment export sector accounted for $3.3 billion or 46 percent of total exports, but what was more worrying was that, net imports stood at $10.5 billion per year, outstripping exports by $3.3 billion, he said.
He added by saying that, the government would strive to keep a check on imports, but exhorted the exporters to increase their exports and try to narrow the gap and try to bring down the negative balance of payments.
To meet this challenge, he suggested amongst other things to find new markets in addition to the traditional markets and identify niche markets in particular if the garment industry wanted to grow its exports.
Out of overall exports of US $7.2 billion the garment export sector accounted for $3.3 billion or 46 percent of total exports, but what was more worrying was that, net imports stood at $10.5 billion per year, outstripping exports by $3.3 billion, he said.
He added by saying that, the government would strive to keep a check on imports, but exhorted the exporters to increase their exports and try to narrow the gap and try to bring down the negative balance of payments.
To meet this challenge, he suggested amongst other things to find new markets in addition to the traditional markets and identify niche markets in particular if the garment industry wanted to grow its exports.
