ECONOMYNEXT – Sri Lanka had exported 789.9 million US dollars in April 2021, recovering from steep a fall to 282.3 million dollars last year at the beginning of a Coronavirus pandemic and reaching the level of 789.1 million seen in 2019, just as a third wave hit the country.
Export earnings from January to April 2021 grew 29.62 per cent to 3,699.34. million US dollars, helped by the easing of Coronavirus restriction in the country and in the world, Sri Lanka’s Export Development Board said.
In April 2021, apparel exports grew 49 per cent to 462.38 million US dollars, tea grew 1.14 per cent to 79.26 million dollars, rubber-based products were 151.22 per cent to 64.74 million dollars.
“Increased performance of rubber-based exports in April 2021 is due to the better performance of exports of Industrial & Surgical Gloves of Rubber (188.87 per cent) and pneumatic and retreated rubber tyres and tubes (172.72 per cent),” the EDB said.
Coconut based products grew 100 per cent to 55.76 million dollars, spices and essential oils were rose 85.77 per cent to 22.46 million US dollars.
“Export earnings from Spices and Essential Oils in April 2021, increased significantly compared to April 2020 – growth is mainly due to increased exports of cinnamon, pepper and cloves,” the EDB said.
Spice exports in the period January to April has generated 136.76 million dollars.
“The significant increase of 115.4 per cent recorded from January to April 2021 compared to 2020 – is an increase beyond the corresponding period of 2019 too.”
Exports to the United States, Sri Lanka’s top export market grew from 303.78 per cent to 205.20 million US dollars, exports to the UK grew 68.34 per cent to 68.34 million dollars and to India 365.54 per cent to 53.91 million US dollars.
Exports to China increased 77.79 per cent to 18.81 million dollars and the Netherlands increased by 222.77 per cent to 28.21 million dollars in April 2021.
Exports to the Netherlands was helped by apparel and liquidity coconut milk. Export growth to China was driven by bulk tea, mineral sands, activated carbon and cocopeat (Colombo/May20/2021)