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A Good Picture Of Sri Lanka'S Garment Industry

2012/4/13 13:22:00 11

Despite fears of a slow economic recovery in Europe, the Sri Lankan garment industry is optimistic that demand for export market should be maintained this year because of the arrival of new factories and new buyers abroad.

Last week at the Karen Bo, by

Sri Lanka

The Export Development Council (--Expo) has held many Sri Lanka first class garment manufacturers to participate in the exhibition, which aims to enhance the international reputation of Sri Lanka's export industry and attract export orders. After the Second World War, the largest trade show in the country was --Expo 2012.

Sri Lanka President Mahinda Rajapaksa attended the opening of the exhibition and delivered a speech that foreign large investors appeared in Sri Lanka, which was a vote of confidence for Sri Lanka.

During the exhibition, the Sri Lankan government and the US held negotiations on Trade and investment structure agreements between the two countries (TIFA).

Ready-made clothing is the largest export item in Sri Lanka. Garments and textiles account for 40% and 52% of the total export volume of industrial products in 2011.

As most enterprises are fully loaded with orders in the coming months, the industry expects 2012 of them to be a good year.

Brandix, the largest exporter of clothing in Sri Lanka, said that although the European economic recovery was sluggish, export demand was expected to be maintained. Raghuraman, director of market observation Department of the company, said that in the first quarter of this year, the clothing industry in Sri Lanka was in good condition, mainly due to the high growth in mainland China and the overheating of Vietnam due to the overturn of manufacturers from mainland China to Vietnam, resulting in excess orders flowing to Sri Lanka.

Clothing and textiles in Sri Lanka, 2011

Exit

The total value reached 4 billion 200 million US dollars and grew by 24%.

Compared with the same period last year, exports grew by about 1.6% this month.

Brandix pointed out that Sri Lanka's garment exports have grown, at least due to the adherence to the standards of moral production of the garment factories in the country.

Although the Garment Without Guilt campaign will not bring higher profits to the Sri Lanka garment industry, it will promote more orders and make the Sri Lanka garment factories different from other countries, such as Bangladesh and other countries with low cost, but there is always suspicion of immoral production.

Now, unlike the past, with the consumer's cognition and many standards that should be followed, buyers' orders have also moved towards moral procurement. This is why the Sri Lankan industry is in a better position because the buyers of moral production will not raise the order price, but will continue to place more orders underground.

In addition, the end of the civil war which lasted for twenty-five years in May 2009 has also benefiting the development of the garment industry in Sri Lanka. With the cancellation of travel warnings, new international brands have already given orders to Sri Lanka garment factories.

Raghuraman points out that the cancellation of the travel warning allows anyone to come to Sri Lanka, which is also more convenient for long-term customers. There is no security problem now, and the customer's orders are also increasing.

The order for Brandix is now in July and is not expected to be reversed by the end of the year.

Sarasavi Exports is Sri Lanka cotton, linen tights and hosiery manufacturers, the export market for the United States, Britain, Germany and Northern Europe, the company's general manager, MDS Hemantha Kumara, said that the company's financial performance in 2012 was better than that in 2011. It also operated well and invested in new equipment to reduce costs and increase output value. At present, more customer demand has added value, such as antibacterial and aromatic socks.

Daya Apparel is another large exporter in Sri Lanka. The Expo 2012 expects to sell its multi-functional dustproof and waterproof to new buyers.

Ready-made clothes

At present, the company orders have been completed until August and expect growth in the fourth quarter of this year.