Dec 22, 2010 (LBO) – Sri Lanka’s export earnings in October 2010 shot up 27.6 percent to 802 million US dollars from a year ago, the third highest monthly value, spurred by higher apparel and commodity exports, the central bank said. Imports grew at a slower 8.4 percent to 1,131 million dollars during the month, shrinking the trade gap.
Higher export earnings from the textile and garments and minor agricultural crops helped increase total exports, the central bank statement said.
“The largest contribution to the growth in exports in October was from the industrial sector, led by significant increases in earnings from textile and garments, rubber products and machinery and equipment.”
Earnings from garment exports to the European Union and the USA increased by 27.4 percent and 33.1 percent in October 2010 from the year before.
“Earnings from agricultural exports, which have taken on an increasing trend since April 2010, improved further in October, 2010 mainly reflecting higher prices,” the central bank said.
The average export prices of tea and rubber continued to remain high at 4.43 dollars a kilo and 3.81 dollars a kilo, in October 2010.
Earnings from minor agricultural exports increased by 35.9 per