This was an decrease of 9.78 percent YoY, data from the Export Development Board (EDB) showed.

“Declining trend in merchandise exports further continues, due to the negative trends shown in major export products i.e., apparel and textiles, rubber and rubber-based products and coconut and coconut-based products,” the EDB said in a statement yesterday.

Export earnings from apparel and textile, the largest foreign exchange generator for the economy, contracted by 23.1 percent YoY to US $ 342.81 million in April 2023, compared to April 2022

Similarly, earnings from rubber and rubber finished products decreased by 22.28 percent YoY to US $ 55.4 million in April 2023, with poor performance in exports of pneumatic and retreated rubber tyres and tubes (22.09 percent) and industrial and surgical gloves decreased by (24.32 percent).