ECONOMYNEXT – Sri Lanka has exported 884 million dollars of goods in May, up 50 percent from April 2020, but a little lower than 964 million recorded in 2019, the state export promotion office said.
Exports from January to May 2021 was 4,583.56 million dollars 32.6% from 3,456.32 Million in 2020
Apparel was up 69 percent to 370 million US dollars, tea was flat at 109 million dollars, rubber based products were up 79 percent to 91 million US dollars, electronic components were up 62 percent to 35 million US dollars, Sri Lanka Export Development Board said.
The United States was the top export destination with 213 million US dollars, UK bought 72 million US dollars of goods, India 55 million dollars and Germany 53 million US dollars.
The EU as a region bought 210 million US dollars of goods, just behind the US.
Sri Lanka went into a lockdown in the last week of May though export firms were allowed to operate.
Apparel exporters say demand is recovering in the West with vaccination and stimulus money but the domestic pandemic has pushed up absenteeism and costs were also rising with the Fed firing a new commodity bubble.