Sri Lanka exports up 40-pct to July

Sept 05, 2011 (LBO) – Sri Lanka’s exports in the seven months to July rose 40 percent to 6,080 million US dollars from a year earlier, with apparel growing 44 percent, an export promotion official said. In July exports had topped a billion US dollars.

Ratnayake had earlier said year-end target for exports was 10 billion US dollars.

Export Development Board chairman Janaka Ratnayake said exports to the US rose 37 percent to 1.2 billion US dollars. Exports to Europe rose 41 percent 2.1 billion dollars. To India it was up 34 percent to 320 million US dollars.

He said apparel exports reached 2.5 billion US dollars, up 44 percent and rubber products reached 494 million US dollars up 81 percent.

Sri Lanka is a key exporter of solid rubber tyres, and the industry even imports raw rubber for manufacture.

Revenues from tea rose 10 percent to 800 million US dollars, natural rubber was up 46 percent to 130 million US dollars and coconut products rose 49 percent to 214 million US dollars.

Up to June Sri Lanka had earned 5,056 million dollars from exports with the month bringing 815 million US dollars in revenues, according to central bank data.