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June Exports increases by 9.41% to US$ 978.2 mn

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Sri Lanka’s merchandise exports in the first half of the year 2021 was US$ 5,561.72 million, an increase of 27.49% over US$ 4,362.34 million in the first half of the year2020.

“Our appreciation goes to the exporters who are contributing their maximum to the economy, despite the severe third wave of covid19, amidst many restrictions and obstacles. The results are due to the sector specific interventions of all stakeholders and the Government, along with the commitment of our exporters” The Export Development Board (EDB) Chairman, Suresh D. de Mel opined.

In June 2021, exports of Rubber based products, Electrical & Electronic Components, Spices & Concentrates and Gems & Jewellery recorded double-digit growth compared with the month of June 2020. In addition, on a year-on- year basis exports of Apparel, Tea and Coconut based products increased by 3.01%, 7.81% and 8.61% respectively.

For the period of January to June 2021, merchandise exports increased by 27.49% to US$ 5,561.72 Million compared to the same period of 2020.

Export earnings from Rubber & Rubber finished products increased by 48.91 % to US$ 519.96 million in Jan-June 2021 due to the better performance of exports of Industrial & Surgical Gloves of Rubber (78.49%) and Pneumatic & Retreated Rubber Tyres & Tubes (50.43%).

Earnings from all the major categories of Coconut based products increased.

Meanwhile, earnings from export of Electrical and Electronic Components (EEC) increased by 40.15% to US$ 201.95 Mn in the period of January to June 2021. Export earnings from Spices and Essential Oils increased significantly in the period of January to June 2021.

Strong Export Growth was recorded for top 10 export markets in the period of January to June 2021.

The single largest export destination of the United States of America recorded US$ 1,355.14 Mn worth of exports in the period of January to June 2021– a significant year on year increase of 18.1 % in comparison to US$ 1,147.45 Mn recorded in 2020.

Exports to the United Kingdom as the second largest trading partner recorded an increase of 22.84% to US$ 444.18 Mn during the period of January to June 2021.

The services exports estimated by EDB which includes ICT/BPM, Construction, Financial services and Transport & Logistics show exports of US$ 1,587.75 Mn for the period of January to June 2021.

Estimated service exports increased by 19.92 % in the first half of the year 2021 compared to the corresponding period of 2020.

Source DailyNews
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