Dampened export performance for October

Sri Lanka’s export performance for the month of October witnessed a dip, primarily due to the adverse impacts of the second wave of the pandemic, both locally and globally.

Statistics from Sri Lanka Customs showed that earnings from merchandise exports recorded a negative growth of 14.9 percent compared to the corresponding month the previous year, reaching to US$ 831.71 million.

“It is concerning to see a sharp reduction in exports in October due to the COVID-19 eruption in Sri Lanka which has had a direct impact on our manufacturing and export facilities,” said Export Development Board (EDB) Chairman Prabhash Subasinghe.

He added that exporters order book is full for the rest of the year and the businesses need to be agile to manage through the disruption brought about by the pandemic.