Market Insights Consumer Apparel Children's Apparel

Clothing Accessories & Other Clothes - Sri Lanka

Sri Lanka

In Sri Lanka, the revenue generated by the Clothing Accessories & Other Clothes market is projected to reach US$23.74m in 2024.
This market is expected to experience an annual growth rate of 2.48% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this segment, with a staggering US$4,469m in 2024.
Taking into account the total population figures, the per person revenue in Sri Lanka's Clothing Accessories & Other Clothes market is estimated to be US$1.08 in 2024.
Looking ahead, the volume of this segment is projected to amount to 12.0m pieces by 2029.
However, there is a slight anticipated decline in volume growth, with a -0.2% expected in 2025.
On an individual level, the average volume per person in Sri Lanka's Clothing Accessories & Other Clothes market is forecasted to be 0.6pieces in 2024.
Sri Lanka's clothing accessories market is thriving with a rich heritage of handcrafted jewelry and vibrant textiles.

Key regions: China, United States, Germany, Philippines, Indonesia

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.