Be the First to Know

lanka matrimony

lanka ads

Apparel and textile earnings increase by 12.04%

0 30
Exports maintain US$ 1 bn mark in past 9 months:
Business
Monthly merchandize export performance, February 2022 US$ mn

Sri Lanka’s merchandise exports increased by 9.91% to US$ 1,046 million in February 2022 compared to February 2021 as per the data released by the Sri Lanka Customs and this is a 5.8% increase when compared to February 2020.

Export Development Board (EDB) Chairman Suresh D de Mel said; “Sri Lanka’s Merchandize Exports maintained the above US$ 1 billion mark continuously from the beginning of this year, recording an increase of 9.91% to US$ 1.05 billion in February 2022 compared to last year. This was also the ninth consecutive month of having over US$1 billion revenue. We hope the same trend will continue.” Export earnings from Apparel & Textile have increased by 12.04 % y-o-y to $ 494.82 million in February 2022 with strong performance in exports of Apparel (11.87%) and Woven Fabrics (31.04%).

Export earnings from tea in February 2022, which made up 12% of merchandise exports, decreased by 10.38% y-o-y to US$ 100.86 million. Export of tea packets bulk tea decreased by 17.22%& 2.7% respectively in February 2022. Export earnings from Rubber and Rubber Finished products have increased by 11.31 % y-o-y to $ 93.17 million in February 2022. Year-on- year, export earnings from Desiccated Coconut, Coconut Milk powder, Coconut cream and Liquid Coconut Milk categorized under the Coconut Kernel Products increased by 17.75%, 1.24%, 17.52%, and 16.28% respectively in February 2022. Being the largest contributor to the Coconut based sector, Coco Peat, Fiber Pith and Moulded products which are categorized under the Coconut fibre products, increased by 13.6% to US$ 16.45 million in February 2022. Export earnings from the Electrical & Electronics Components increased by 16.92% y-o-y to US$ 37.73 million in February 2022.

Export earnings from Seafood increased by 50.57% to US$ 21.17 million in February 2022 compared to February 2021. Further, export earnings from Ornamental fish increased by 40.78% to US$ 1.45 million in February 2022. However, export earnings from Spices and Essential Oils decreased by 18.59% to US$ 27.15 million in the month of February 2022 compared to the month of February 2021 due to the poor performance in Cinnamon (-9.73%) and cloves (-63.41%). For the period of January to February 2022, merchandise exports increased by 11.66 % to US$ 2,108.65 million compared to the corresponding period of 2021. Strong export performance was recorded for the major export markets which accounted for 65% of total merchandise exports during the period of January to February 2022 and the month of February 2022.Eight markets out of top 10 markets were recorded positive performance except Belgium and China. During the month of February 2022, exports to the United States of America, Sri Lanka’s single largest export destination, increased by 22.66% to US$ 295.25 million.

Exports to the United Kingdom as the second largest trading partner recorded an increase of 2.32% to US$ 81.72 Mn in February 2022 compared to February 2021. This performance has resulted in the increased Exports recorded in Apparel and Textile and Rubber based Products.

In February 2022, exports to Free Trade Agreement (FTA) partners accounted for 7.2% of to tal merchandise exports and increased by 23.4% to US$ 84.26 Mn. Although Exports to India increased by 27.52% y-o-y to US$ 77.25 Mn in February 2022, exports to Pakistan decreased by 8.96% y-o-y to US$ 7.01 Mn. Increased Exports to India is mainly supported by increased exports of Animal Feed (30%), Pepper (14.74%),Woven fabrics (27.64%) and Apparel (14.93%) in February 2022.On a region wise comparison exports to all regions except CIS countries increased during the period of January to February 2022 and the month of February 2022 compared to February 2021.Exports to the European Union (EU) which comprised 20% of Sri Lanka’s exports during the month of February 2022 increased by 4.83% y-o-y to US$ 241.68 Mn. Breakdown of exports to the top five EU markets which accounted for 80% of Sri Lanka’s total exports to the EU were; Germany US$ 60.7 Mn (increased by 2.46 %), Italy US$ 53.21 Mn(increased by 19.84%), Netherlands US$ 33.06 Mn (increased by 9.47%), Belgium US$ 22.68 Mn (decreased by 21.82%) and France US$ 19.52 Mn. (increased by 14.96%).The estimated value of services exports for the month of February 2022 was 290 Million dollars, increasing 31.66 % over the corresponding month of 2021.

Wednesday, March 30, 2022 – 01:00











Leave A Reply

Your email address will not be published.

adana eskort bayan - eskort bayan adana - mersin eskort - eskort - eskort adanaadana eskort bayan - eskort bayan adana - mersin eskort - eskort - eskort adana