Tuesday, 04 August 2020 14:10

Sri Lanka’s export earnings exceed US$1 billion mark in July

Sri Lanka’s export earnings have increased to US $ 1,060 million in July 2020, from US $ 1,020 million in June 2020, official provisional data showed. This is slightly higher than the $ 999 million achieved in July last year.

Exports in Sri Lanka averaged 752.97 USD Million from 2003 until 2020, reaching an all time high of 1137 USD Million in March of 2019 and a record low of 282 USD Million in April of 2020.

Accordingly, July export earnings have increased by 3.92% on a monthly basis and 6.10% on an annual basis.
It signals that Sri Lanka is in the path of recovery faster than anticipated, official sources said.

Apparel, tea, coconut, rubber, fruits and vegetables and other agricultural crop exports have performed better than expected, a senior EDB official said.

Sri Lankan exporters are quite resilient and responsive to the market conditions and they have added value to the customers even during theCovid-19 difficult times,” he added.

He expressed the belief that the food and agriculture exports would help Sri Lanka achieve the $ 10.5 billion target set for the year.

Although apparel export was a major concern in April, it has performed well beyond o expectations,, he opined.

EDB official expressed concern on insufficient orders for the apparel sector beyond August is a concern.

(LIN)

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