Wednesday Feb 25, 2026
Wednesday Feb 25, 2026
Wednesday, 25 February 2026 00:30 - - {{hitsCtrl.values.hits}}
EDB Chairman Mangala Wijesinghe
Sri Lanka’s apparel and textile sector is forecast to generate $ 5.5 billion in export revenue this year, with authorities banking on new trade concessions and market access gains to drive growth.
Export Development Board (EDB) Chairman and CEO Mangala Wijesinghe yesterday said 2026 is expected to mark a “major transformation” for the industry, leveraging on preferential market access and agreements, to create fresh opportunities to scale up value-added exports.
“With liberalised rules of origin now applied for more garments manufactured in Sri Lanka to enter the UK under DCTS with zero tariffs, European Union GSP+ and reduced tariff access from 20% to 10% to the US, we hope there’ll be a notable increase and expansion in the sector,” he told journalists.
He said the UK’s Developing Countries Trading Scheme (DCTS) and the European Union’s GSP+ facility are expected to enhance competitiveness, particularly in key markets where price sensitivity remains high.
In 2025, the apparel and textile sector remained Sri Lanka’s top merchandise export category, rising 5.34% year-on-year (YoY) to $ 4.91 billion.
However, January 2026 recorded a temporary setback. Apparel and textile exports declined 2.82% YoY to $ 447.25 million, mainly due to reduced shipments to the US and the EU.
Wijesinghe described the January performance as a short-term fluctuation. “We have noticed that there is a slight decline in apparel exports in January compared to last year, but we are confident that the industry will rebound from this in February,” he expressed confidence.
The Chairman expects that the sector will shift toward higher-value products to offset global demand volatility and sustain momentum through the remainder of the year.
