Sri Lanka: Sportswear Market 2025

Sportswear Market Size in Sri Lanka

In 2021, the Sri Lankan sportswear market decreased by -63.3% to $X, falling for the third year in a row after three years of growth. Overall, consumption continues to indicate a abrupt decrease. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Sportswear Production in Sri Lanka

In value terms, sportswear production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 18%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Sportswear Exports

Exports from Sri Lanka

In 2021, sportswear exports from Sri Lanka expanded rapidly to X units, with an increase of 11% compared with 2020 figures. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +17.0% against 2015 indices. The pace of growth appeared the most rapid in 2015 when exports increased by 28%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, sportswear exports soared to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), Italy (X units) and Belgium (X units) were the main destinations of sportswear exports from Sri Lanka, together accounting for 72% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +29.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for track suits, ski suits and swimwear exports from Sri Lanka, comprising 45% of total exports. The second position in the ranking was held by Italy ($X), with an 11% share of total exports. It was followed by Germany, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+15.2% per year) and Germany (+17.6% per year).

Export Prices by Country

The average sportswear export price stood at $X per unit in 2021, jumping by 15% against the previous year. Overall, the export price, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 16%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sportswear Imports

Imports into Sri Lanka

In 2021, overseas purchases of track suits, ski suits and swimwear decreased by -20.1% to X units, falling for the second consecutive year after two years of growth. Overall, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 387% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, sportswear imports declined remarkably to $X in 2021. Over the period under review, imports, however, posted a strong expansion. The pace of growth was the most pronounced in 2019 with an increase of 269%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Lebanon (X units) constituted the largest sportswear supplier to Sri Lanka, accounting for a 77% share of total imports. Moreover, sportswear imports from Lebanon exceeded the figures recorded by the second-largest supplier, India (X units), sixfold. China (X units) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Lebanon was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+31.2% per year) and China (-18.2% per year).

In value terms, Lebanon ($X) constituted the largest supplier of track suits, ski suits and swimwear to Sri Lanka, comprising 69% of total imports. The second position in the ranking was taken by India ($X), with a 16% share of total imports. It was followed by China, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value from Lebanon was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+28.1% per year) and China (-22.6% per year).

Import Prices by Country

The average sportswear import price stood at $X per unit in 2021, approximately reflecting the previous year. Overall, the import price, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2013 an increase of 39%. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Hong Kong SAR ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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