Apparel Up South Asia Transshipment Business

Apparel trade sewing up South Asia transshipment business

The Colombo International Container Terminal, which has allowed Colombo to handle the largest mega-ships and maintain its transshipment momentum.

The continuing growth of the apparel industry will be key to future gateway traffic and transshipment volumes for South Asia, where in the first quarter container throughput rose 5.3 percent, higher than any other region, and 10 times the global average.

Apparel exports from the region have grown by around 10 percent annually from 2005 to 2014, with Sri Lanka alone setting a sales target for the industry of $8 billion by 2020, according to Drewry’s Container Insight Weekly. The IMF expects GDP growth for India, Pakistan, Sri Lanka and Bangladesh between 2015 and 2020 to be well above the world average, with India leading the way at around 8 percent.

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