The Rupee Depreciation Has Not Played A Positive Role In Sri Lanka'S Clothing Exports.

Clothing exporters in Sri Lanka hope that the depreciation of Sri Lanka's rupee will drive this year's prosperity, but now they are beginning to feel disappointed because the rising cost of imported raw materials has damaged profits, Sri Lanka said.

Sri Lanka's company has called for currency depreciation for years to help them.

Exports of clothing and tea increased by 22% over the past year, and officials set the same target for growth this year, which may push exports to more than $13 billion.

The head of Sri Lanka's export development agency, Jia Ka La lanac, said the goal is now challenging.

The main challenge will be the impact of the rupee depreciation.

Exporters have demanded depreciation of Rupee for years, which has a direct impact on their export earnings.

But our main export products, such as clothing, are based on imports.

Because of the depreciation of the rupee, the cost of imports will rise and profits will decline.

The industrial sector, led by clothing, accounts for 80% of total export revenue.

On Monday, after the central bank decided not to intervene in February 9th, the Sri Lankan rupee recorded a record of 131.60 rupees against a dollar.

La Nayak said that in North Africa and the Gulf region, there will be turbulence in many key markets.

Sri expects export earnings to grow by 50% to $15 billion in 2015 and $20 billion by 2020.

Deceleration in economic growth in many developed countries, efforts in the euro area

Sri Lanka's share of exports to Europe and the United States has dropped from 61% in 2005 to 54.1% last year, while exports to Asia increased by 3%.