The Sri Lanka Export Development Board (EDB) reports that the highest monthly export earnings recorded in the country were achieved in July.
EDB Chairman Mangala Wijesinghe stated that export earnings rose to USD 1,641 million during the month of July.
He made this announcement while addressing a media briefing organized by the Government Information Department.
“This marks the highest monthly export growth Sri Lanka has ever achieved. Export income from the goods sector increased to USD 1,304 million, showing a 15.37% growth compared to last year. The services sector earned USD 337 million in export income. We’ve seen significant growth in apparel, tea, coconut-based products, processed foods, jewellery, vegetables, and fruits. In the services sector, transport showed a notable 14% increase in export earnings. The United States remains our largest export destination, with over USD 275 million in exports. Germany saw a 57% increase. We also observed remarkable growth in export income to countries like Italy, India, and Australia during July,” he said.
Chairman Mangala Wijesinghe further stated that from January to July, export earnings have now reached close to USD 10 billion.
“This is a remarkable increase and is Sri Lanka’s highest export growth over a seven-month period. We expect the foreign exchange reserves to reach USD 7.3 billion this year. Of the nearly USD 10 billion in export earnings, the goods sector contributed around USD 7.8 billion, while the services sector grew to USD 2,192 million. Overall, this reflects a 7.79% growth for the first seven months,” he said. (Islandnews)
