Opportunity Sri Lanka | » Sri Lanka’s exports sector records US$ 1.1 billion in July amidst pandemic
Sri Lanka’s exports sector records US$ 1.1 billion in July amidst pandemic

Sri Lanka’s exports sector records US$ 1.1 billion in July amidst pandemic

Sri Lanka’s Exports Development Board (EDB) has released provisional data of the Sri Lanka Customs that has reported that the country’s exports have surpassed the US$ 1 billion mark in July 2021. This is the second time in 2021 where exports earnings have seen an increase while the exports sector performance in the first seven months has reflected a robust 22% increase.
Sri Lanka’s exports topped the US$ 1 billion mark in March 2021.
The EDB has stated that exports of US$ 1,099.41 million in July 2021 was the highest ever monthly achievement that had shown an increase of 1.33% over US$ 1,085 million in July 2020 and an increase of 12.39% over US$ 978.2 million in July 2019.
Merchandise exports had increased by 22.17% to US$ 6,661.13 million in the first seven months of this year when compared to the corresponding period of 2020.
According to reports, there has been an increase in Apparel and Textiles, Rubber-based products, Coconut-based products, Electronics and Electronic Components, Spices and Concentrates, Seafood and Ornamental Fish exports.
“Sri Lanka’s exports show a remarkable rise despite the current pandemic situation across the World, thanks to the utmost courage, determination and continuous improvements shown by our exporters in sustaining export business during the pandemic,” EDB Chairman Suresh de Mel has been quoted as saying.

OSL take:

Sri Lanka’s manufacturing and exports sectors have shown a growth momentum despite challenges posed by the global Covid 19 pandemic. The many trade agreements and concessions enjoyed by the country have helped boost Sri Lankan exports to foreign markets. With Sri Lanka engaged in an aggressive development programme and working towards emerging as a business destination in the South Asian region, the business potential in Sri Lanka’s manufacturing and exports sectors have posed lucrative business/investment opportunities.

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Article Code : VBS/AT/30082021/Z_1

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