Speed to Market

Logistics giant DHL expects double-digit growth next year, led by the apparel industry, but slower than expected growth in garments could stifle the momentum in a few years. Logistics giant DHL expects double-digit growth next year, led by the apparel industry, but slower than expected growth in garments could stifle the momentum in a few years.

“Sri Lanka is an important market for DHL and has registered double digit growth in the past few years. We are committed to increasing that growth,” Scott Price, Chief Executive Officer, DHL Express Asia Pacific, said in Colombo on Wednesday.

Sri Lanka is one of DHL’s top performing markets in the Asian region, among others like China, India, Vietnam and Bangladesh, with about ten percent of annual group revenues coming from the Asia Pacific region.

“We have invested about US$ 1.6 bn in Asia alone over the past few years,” Price said.

Apparel is 40 percent of DHL’s local business, followed by financial industry services and tea, Country Manager for DHL in Sri Lanka, Chaminda Hewamallika said.

While apparel accounts for over 50 percent of Sri Lanka’s exports, industry growth has slowed to about eight to ten p