By Sri Lanka’s apparel exporters had no shortage of orders and they have a workforce of 800,000 lined up and capable of delivering, but the loyal customers are pulling off for other markets which are relatively safe and stable.
Sri Lanka is desperately in search of foreign exchange but the five billion dollars is crumbling and there is little incentive from the government.
Speaking to the media Yohan Lawrence, Secretary-General of the Joint Apparel Association Forum of Sri Lanka, said that a 20% decline is to be already seen and if the situation is not corrected by August a further decline is inevitable.
Foreign buyers are hesitant to place orders because they are not sure if production may be distracted due to power cuts, fuel shortages and political instability, etc.
