Sri Lanka set to increase granite export amidst low domestic demand.
By: Staff Writer
February 06, Colombo (LNW): Sri Lanka is set to explore granite exports with the aim of earning much needed foreign exchange as the local demand for granite has come down in recent times, industry ministry sources said.
As per Volza’s Sri Lanka Export data, Granite export shipments from Sri Lanka stood at 43.4K, exported by 1,379 Sri Lanka Exporters to 1,747 Buyers. Sri Lanka exports most of it’s Granite to United States, India and Maldives
Sri Lankan granite imports are set to reach 4.4 million kilograms by 2026, showing an average growth rate of 3.3% year on year.
Since 1999, domestic demand for Sri Lankan granite has increased by an average of 7.9% every year. In 2021,
Sri Lanka was ranked 30th in the world, with Thailand overtaking it at 3.6 million kilograms. The UK, Russia and Denmark were placed 2nd, 3rd and 4th respectively in this ranking
The Cabinet of Ministers recently approved the immediate export of granite stocks, paving the way for a potential economic boost. Cabinet Co-Spokesman and Minister Bandula Gunawardena
Cabinet approval has been granted for the appointment of a committee to study the facts and submit a report with recommendations on the possibility and appropriateness of exporting up to one million metric tons of granite.
Cabinet Co-Spokesman and Minister Bandula Gunawardena said at present, the requirement of Granite for construction and development activities in the country is relatively low and the livelihoods of the miners engaged in the granite mining industry and the communities associated with it have been severely affected due to this.
The livelihoods of the miners engaged in the granite mining industry and the communities associated with it have been severely affected due to this, he pointed out. .
Minister Gunawardena further said that a stock of granite removed during the construction of Hambantota Magampura port is currently piled near the administrative building of the port area and in the Hambantota new hospital premises and the said granite stock needs to be removed immediately.
Taking into account a proposal presented by the Minister of Environment, the Cabinet of Ministers approved to take necessary steps for the immediate export of the said granite stocks under the supervision of the Geological Survey and Mines Bureau.
Cabinet Co-Spokesman and Minister Bandula Gunawardena outlined the dire circumstances faced by the quarry sector, with 50,000 workers witnessing a significant impact on their livelihoods due to the economic downturn.
He said the construction industry is grappling with challenges amid the economic crisis, experiencing reduced domestic demand, prompting the Government to explore opportunities for the export of granite resources.