Export earnings up 12.4% in 1H

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Merchandise exports from Sri Lanka increased 12.4 per cent to US$ 6,408.3 million compared to the same period of 2021, as exports in June increased 20 per cent to US$ 1,208.2 million.

According to statistics released by the Export Development Board, Apparel & Textile exports increased 19.73 per cent to US$ 2,967.39 million during the period of January to June 2022 compared to the same period of 2021.

For the period of January to June 2022, export earnings from Coconut & Coconut -based products expanded 12 per cent to US$ 434.34 million.

Earnings from export of Electrical and Electronic Components (EEC) increased 12.96 per cent to US$ 228.12 million in the period of January to June 2022 compared to the corresponding period of 2021.

Export earnings from Seafood increased 33.64 per cent to US$ 142.17 million in the period of January to June 2022 compared to year 2021. Earnings from export of ornamental fish increased by 51.49 per cent to US$ 10.15 million during the period of January to June 2022 compared to year 2022.

However, export earnings from Tea decreased 11.25 per cent to US$ 577.38 million during the period of January to June 2022 compared with the corresponding period of 2021.

Export earnings from Rubber & Rubber finished products slightly decreased 0.64 per cent to US$ 516.62 million in January – June 2022 compared with the same period of 2021.

Exports of Apparel & Textiles increased 36.85 per cent y-o-y to US$ 566.78 million in June 2022. The increase was driven by both Apparel and Textiles.

Export earnings from Rubber and Rubber Finished products have increased 7.18 per cent y-o-y to US$ 102.36 million in June 2022.

On a monthly basis, export earnings of kernel products, fiber products and shell products categorized under the Coconut based products increased 30.15 per cent, 1.63 per cent and 21.3 per cent respectively in June 2022 compared to June 2021.

Export earnings from Seafood increased 130.75 per cent to US$ 36.39 million in June 2022 compared to June 2021. Export earnings from Ornamental fish increased 297.4 per cent to US$ 3.06 million in June 2022 compared to June 2021.

Export earnings from the Electrical & Electronics Components increased 5.71 per cent y-o-y to US$ 39.82 million in June 2022.

However, export earnings from Tea in June 2022 which made up 12 per cent of merchandise exports, decreased 5.99 per cent y-o-y to US$ 116.49 million.

Export earnings from Spices and Essential Oils decreased 10.9 per cent to US$ 31.74 million in the month of June 2022 compared to month of June 2021.

The estimated value of services exports for the first half of 2022 according to the Export Development Board stood atUS$ 1,337 million.

By Mario Andree