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SL exports achieve only half of target in 8 months

24 Sep 2021

  • EDB contemplates revision of 2021 target
By Imsha Iqbal Amidst the prevailing pandemic and extended curfew restrictions in the country, only half of the export target of the Sri Lanka Export Development Board (EDB) has been achieved by Sri Lankan exporters as at end-August 2021, The Morning Business learns. Speaking on the export target for this year, EDB Director of Policy and Strategic Planning Kumudunie Mudalige stated that the EDB target for this year is $ 15.72 billion. However, by the end of August 2021, Sri Lanka has been able to earn approximately $ 7.88 billion while also crossing the $ 1 billion mark for three consecutive months. The export revenue during the last month was reported at $ 1.08 billion. However, responding to an inquiry made by us on revising the export target for 2021 due to the impact of the pandemic, EDB Director General Chitranjali Dissanayake stated: “The target has not yet been revised, but we are contemplating revising it depending on the situation.” Further elaborating on the export target revision, Dissanayake said that such a revision would take place after referring to this month’s export revenue, and thus no revision will be conducted at this moment. With regard to revenue generated during the period from January to August 2021, merchandise exports have increased by 22.36%. The increase has taken place in main exporting sectors such as apparel and textile, tea, rubber-based products, coconut-based products, electronics and electronic components, spices and concentrates, and seafood and ornamental fish. In terms of rubber and rubber-finished products, export earnings improved by 39.9%, which is an income of $ 708.92 million during the period from January to August 2021. All major export products in the category of coconut-based products have been increased, which includes coconut oil, desiccated coconut, coconut milk powder, liquid coconut milk, coconut cream, cocopeat, mattress fiber, and activated carbon. Accordingly, the highest increase in export earnings was reported from the diamonds, gems, and jewellery sector, which is a 72.82% growth within the period from January to August 2021.


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