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Sri Lanka exports up 2.5-pct in February, EU shipments surge in 2021

ECONOMYNEXT – Sri Lanka exports grew 2.5 percent from a year earlier to 993.7 million US dollars in February 2020, with shipment to the European Union excluding the UK surging 29 percent in the first two months of 2021, the state export promotion office said.

Sri Lanka’s Export Development Board said February exports were a 5-year high.

In the first two months exports to Europe had surged 29.3 percent to 532 million US dollars, while xports to the US were down 10.6 percent to 471 million dollars.

Exports to the UK were down 21 percent to 141 million US dollars and to India down 14.9 percent to 116 million US dollars.

Exports to Germany were up 9.6 percent to 112 million dollars, to Italy up 13.7 percent to 97.4 million dollar, to the Netherlands up 40 percent to 65 million dollars.

Exports to China were up 33 percent to 47 million dollars and Canada was up 25 percent to 47 million dollars.

“Sri Lankans are strong in facing challenges, and the exporters have shouldered the task of placing the economy of the country on the right track with immense difficulties, EDB Chairman Suresh De Mel said in a statement.

Apparel exports were down 45 percent to 862 million US dollars.

Tea was up 2 percent to 213 million US dollars, rubber based products were up 13.7 percent to 167 million US dollars, electronic components were up 114 percent to 131 million US dollars and coconut based products were up 16 percent to 114 million US dollars in the first two months.

There was no separate breakdown for February. (Colombo/Mar23/2021)

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