Home » Sri Lanka Exports recorded 5-billion-dollar Mark in Five Months

Sri Lanka Exports recorded 5-billion-dollar Mark in Five Months

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For the first five months of 2022, merchandise exports increased by 9.7% to US$ 2.4 billion compared to the corresponding period of 2021. Major product sectors except Tea, Rubber-based products and Spices & Concentrates; Apparel & Textiles, Coconut based products, Electronics & Electronic Components, Food & Beverages, Seafood and Ornamental fish recorded increased exports.

Apparel & Textile exports increased by 16.3% to US$ 2,400.6 Mn during the period of January to May 2022 compared to the same period of 2021. Except Gloves, Mitts & Mittens of Textile (-2.61%) and Made-up Clothing Accessories (-9.99%), Yarn (-32.7%) and Made-up Textile Articles (-3.04%), exports of other sub categories of Apparel & Textiles sector increased.

For the period of January to May 2022, export earnings from Coconut & Coconut based products expanded by 10.4% to US$ 350 Mn from the same period last year. Earnings from all the major categories of Coconut based products increased in the period of January – May 2022 compared with the corresponding period of 2021 due to the improved performance in export of Liquid Coconut Milk, Coconut cream, Cocopeat, Mattress Fiber, Activated Carbon, Coconut Oil and Desiccated Coconut.

Meanwhile earnings from export of Electrical and Electronic Components (EEC) increased by 14.6 % to US$ 188.3 Mn in the period of January to May 2022 compared to the corresponding period of 2021. Export of Insulated wires increased by 19.71 % in during the period of January to May 2022 to US$ 33.04 Mn compared with the corresponding period of previous year.

In addition, export of Switches, Boards & Panels, Electrical Transformers and Other Electrical & Electronic Products increased by 4.43%, 34.58% and 9.97 % respectively during the period of January to May 2022 compared with the corresponding period of previous year.

Export earnings from Seafood increased by 16.7% to US$ 105.8 Mn in the period of January to May 2022 compared to year 2021 due to the better performance in all the sub categories; Frozen Fish (8.64%), Fresh Fish (45.92) and Prawns (56.55%).

Further, earnings from export of ornamental fish increased by 19.7% to US$ 7.1 Mn during the period of January to May 2022 compared to year 2022.

However, export earnings from Tea decreased by 12.5% to US$ 460.9 Mn during the period of January to May 2022 compared with the corresponding period of 2021. Exports of all the sub categories of tea sector except Tea Bags; Tea packets (-14.2%), Bulk Tea (-10.95%,), Instant Tea (-23.42%) and Green Tea (-31.43%) decreased during the period of January to May 2022 compared with the same period of 2021.

Export earnings from Rubber & Rubber finished products decreased by 2.4 % to US$ 414.3 Mn in January – May 2022 compared with the same period of 2021 attributed to lower exports of Industrial & surgical Gloves (-18.4%). However, exports of Pneumatic & Retreated Rubber Tyres & Tubes increased by 6.83% during the period of January to May 2022 compared with the same period of 2021.

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