Sri lanka News – Sri Lanka’s merchandise exports in July 2022 grew 2.25 percent from a year earlier to 1,128 million US dollars, driven by apparel and rubber products the island’s export promotion office said.
Sri Lanka is currently in the worst currency crisis in the history of the island’s soft-pegged central bank with the rupee collapsing from 200 to 360 in a failed attempt to float the currency (suspend convertibility) with a surrender rule in place.
At 360 the surrender rule and dollars sales continue.
In the seven months to July exports were up 11.8 percent to 7.6 billion US dollars.
Exports of Apparel & Textiles grew 21.55 percent to 550.05 million dollars in July 2022.
Tea exports in July gained 2.08 percent to 117.52 million US dollars.
Export earnings from Rubber and Rubber Finished products have decreased by 7.67 percent to 89.24 dollars, EDB said exports of industrial and surgical gloves performed poorly.
Coconut products fell 12.42 percent to 67.15 million dollars, fiber products dropped 15.45 percent and shell products 25.62 percent.
Export of Seafood fell by 48.99 percent to 20.65 million dollars.
The top buyer of Sri Lanka goods was the United States accounting for 300.71 million US dollars, followed by the UK 95.11 million US dollars and India 63.01 million US dollars. (Colombo/Aug04/2022)