Sri Lanka’s export revenue record month on month increase since April
Sri Lanka’s export revenue has increased after an all-time drop experienced in April this year due to the global Covid 19 pandemic and the economic turmoil that ensued.
Export Development Board (EDB) Chief Prabhash Subasinghe has told the media that the sector has experienced a month-on-month positive increase since April.
According to statistics, the country’s export revenue for the month of July this year is recorded at US$ 1,060 million.
The export revenue of the same period last year was US$ 999 million. In April, the export revenue was US$ 310 million.
Export revenue for the months of May and June this year were US$ 587 million and US$ 1,020 million, respectively.
“We’re very thankful to our exporters for being resilient. The sectors that are doing well are food and beverage and agricultural sectors, such as tea and coconut,” he has said.
The month on month increase recorded in Sri Lanka’s export sector is a positive indication of the growth potential of the country’s economy. This has also resulted in new business/investment opportunities arising in Sri Lanka’s exports sector. Sri Lanka’s geographical positioning in the Indian Ocean, ease of doing business environment and the many trade agreements as well as trade concessions enjoyed by the country will also help boost the exports sector. Foreign businesses/investors exploring opportunities in Sri Lanka could consider investing in the country’s export sector.
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