Sri Lanka’s seafood exports exceed imports by US$ 110 million in first seven months for 2021
The income from Sri Lanka’s seafood exports for 2021 has exceeded the cost of seafood imports by over US$ 110 million, according to Sri Lanka’s State Minister of Ornamental Fish, Inland Fish and Prawn Farming, Fishery Harbour Development, Multi-day Fishing Activities and Fish Exports Kanchana Wijesekera.
The State Minister has further speculated that this year the surplus of income from exports over imports would surpass the US$ 122 million achieved in 2014.
According to Wijesekera, the income could be increased further if Sri Lankans consumed more local varieties of seafood.
Wijesekera has made this observation while addressing 261 entrepreneurs in the Matara district engaged in 11 related industries to ornamental fish breeding, inland fish breeding and the fish food manufacturing industry who were provided with financial grants at a ceremony held at Kamburupitiya recently.
OSL take:
Sri Lanka’s exports sector has recorded a steady growth during the past months. The many trade agreements as well as concessions enjoyed by the country have also helped boost Sri Lanka’s exports sector. Sri Lankan authorities are also focused on expanding the country’s seafood exports. Sri Lanka’s Exports Development Board (EDB) together with the fisheries industry continue to explore new markets to export local seafood. Given the growth in seafood exports, foreign businesses could explore business/investment opportunities in Sri Lanka’s fisheries industry.
| Article Code : | VBS/AT/20211018/Z_4 |