Friday, 22 January 2021 17:20

Export sector maintains reasonable performance despite Covid-19 set back.

Sri Lanka exports maintained resilience last year recording a remarkable achievement surpassing the revised target amidst challenges in Covid -19 crisis.

The Export Development Board (EDB) said this week that 2020 marked a successful year for Sri Lanka’s exports, netting $ 9.9 billion, which was a 104% achievement.

The export performance in 2020 has surpassed the revised forecast of $ 9.5 billion from the original target of $ 13.5 billion.

EDB said that the forecast of $ 13.5 billion in early 2020 was challenging, requiring not only strong efforts from local enterprises, but also the recovery of global demand amid complicated COVID-19 situation.

“Amidst the outbreak of COVID-19, a notable rebound of the export sector was recorded from mid - 2020 with the proactive measures introduced by the Government”, EDB said.

“The growth in exports was not only due to the effective prevention and control of the epidemic in Sri Lanka, but also the commitment of exporter community to support the national economy,” Export Development Board (EDB) Chairman Suresh De Mel said in a statement.

The Export sector achievement by bringing in the much-needed foreign currency at a crisis situation is commendable, he added.

(LIN)

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