Sri Lanka’s exports to China grew 31.92 percent in September year on year as total monthly export revenue crossed 1 billion U.S. dollars for the third time this year, the country’s Export Development Board (EDB) said on Tuesday.<\/p>\n\n\n\n
Total earnings for merchandise exports stood at $ 1,001.27 million U.S. in September, a growth of 5.16 percent compared to 2019.<\/p>\n\n\n\n
“I salute the entire export community, our resilient businesses and all employees in the export sector for this remarkable performance,” EDB Chairman Prabhash Subasinghe said in an official media statement.<\/p>\n\n\n\n
Exports to China continued to gain momentum while exports to Turkey and Britain also saw strong growth of 44.31 percent and 38.77 percent respectively.<\/p>\n\n\n\n
Exports to the United States, the largest buyer of Sri Lankan goods had fallen 5.5 percent to $ 239.9 million. Meanwhile, Africa was the fastest growing export region at 56.4 percent.<\/p>\n\n\n\n
“Our businesses must continue to be resilient whilst facing the unknown and must have strong COVID-19 preventive measures in order to bring in the much-needed foreign currency for Sri Lanka,” Subasinghe said.<\/p>\n\n\n\n
The month of September saw strong growth in the export of coconut-based products and petroleum products, at a rate of 38.89 percent and 38.37 percent respectively.<\/p>\n\n\n\n
Spices and essential oils, and food and beverages also saw strong growth of 24.14 percent and 23.4 percent respectively.<\/p>\n\n\n\n
However, export earnings from garments, which represent around half of annual export revenue, declined by 3.75 percent. Exports of the country’s other staple, tea, grew by a marginal 3.3 percent.<\/p>\n\n\n\n
According to official figures, total merchandise export earnings for January to September had fallen 16.5 percent to 7,401.48 million U.S. dollars due to a fall in shipments during COVID-19 lockdowns.<\/p>\n\n\n\n
The government of Sri Lanka has said that it intends to diversify its export basket and target emerging markets in Asia and Africa<\/p>\n\n\n\n
Source-Xinhua<\/p>\n","protected":false},"excerpt":{"rendered":"
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