30 March 2020 10:29 am
Sri Lanka’s merchandise export earnings for the months of January and February was US$ 1.93 billion, a 3.6 percent decline from the same period last year, according to an Export Development Board (EDB) statement released to the media yesterday.
EDB Chairman Prabhash Subasinghe said the decline in exports in the first two months of the year was due to the prevailing global economic slowdown, and the country can expect export earnings to come down further in the coming months.
Apparel export earnings for the two months amounted to US$ 939 million and the main export markets were USA, UK, Italy, German and Belgium.
Sri Lanka’s apparel exporters have been hardly hit by the COVID-19 crisis amid cancellation of orders.
January-February...
The country earned US$ 208 million from tea exports—the country’s main agricultural export— during the two months. Turkey, Iraq, Saudi Arabia, and Russia were the main export markets for packeted tea while bulk tea exports had mainly gone to Iran, Russia, Turkey and Iraq.
Meanwhile, coconut and coconut-based products export revenue, which comprises of three subsectors namely, kernel, shell and fiber was US$ 100 million during the first two months of this year. These products were mainly exported to USA, Germany, India, China, Mexico and Japan.
The rubber finished products sector recorded US$ 142 million in earnings, which was a US$ 9 million decline from a year ago. The products included pneumatic and re-treated rubber tyres and tubes, industrial and surgical rubber gloves, gaskets, washers, seals of hard rubber, plates, sheets, rods exported to USA, Germany Italy, Belgium, Vietnam and Saudi Arabia.
The export of insulated wires amounted to US$ 12 million and was to India, Maldives and Mexico. Switch boards and panels, electrical transformers were the other electric and electronic and mechanical products that were exported.
Meanwhile, cinnamon exports in the two months amounted to US$ 25 million, pepper US$ 3 million, cloves US$3 million and essential oils US$ 3 million. These products recorded a negative growth compared to the same period of the previous year.
Export earnings from fruits and vegetables amounted US$ 7 million and the export earnings from confectionery and bakery products were US$ 4 million. The exports of such products have increased by 9 percent and 19 percent respectively, compared to the same period last year.
The edible fish and fisheries products exports during the two months amounted to US$ 44 million.
Sri Lankan exporters have shipped 2,429 product lines at six digit HS number to 174 destinations during the first two months of the year—USA US$ 260 million, UK US$ 95 million, India US$ 73 million, Germany US$ 51 million and Italy US$ 40 million.
The country earned US$ 208 million from tea exports—the country’s main agricultural export— during the two months. Turkey, Iraq, Saudi Arabia, and Russia were the main export markets for packeted tea while bulk tea exports had mainly gone to Iran, Russia, Turkey and Iraq.
Meanwhile, coconut and coconut-based products export revenue, which comprises of three subsectors namely, kernel, shell and fiber was US$ 100 million during the first two months of this year. These products were mainly exported to USA, Germany, India, China, Mexico and Japan.
The rubber finished products sector recorded US$ 142 million in earnings, which was a US$ 9 million decline from a year ago. The products included pneumatic and re-treated rubber tyres and tubes, industrial and surgical rubber gloves, gaskets, washers, seals of hard rubber, plates, sheets, rods exported to USA, Germany Italy, Belgium, Vietnam and Saudi Arabia.
The export of insulated wires amounted to US$ 12 million and was to India, Maldives and Mexico. Switch boards and panels, electrical transformers were the other electric and electronic and mechanical products that were exported.
Meanwhile, cinnamon exports in the two months amounted to US$ 25 million, pepper US$ 3 million, cloves US$3 million and essential oils US$ 3 million. These products recorded a negative growth compared to the same period of the previous year.
Export earnings from fruits and vegetables amounted US$ 7 million and the export earnings from confectionery and bakery products were US$ 4 million. The exports of such products have increased by 9 percent and 19 percent respectively, compared to the same period last year.
The edible fish and fisheries products exports during the two months amounted to US$ 44 million.
Sri Lankan exporters have shipped 2,429 product lines at six digit HS number to 174 destinations during the first two months of the year—USA US$ 260 million, UK US$ 95 million, India US$ 73 million, Germany US$ 51 million and Italy US$ 40 million.