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Monday, July 11 , 2011 - 04.20GMT |
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Exports earnings grow by 37.2 % |
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Earnings from exports grew by 37.2 per cent to US dollars 746 million in April 2011, stated the Central Bank adding that external trade continued to perform well in April 2011.
The largest contribution to the growth in export earnings came from the industrial exports, mainly due to higher exports of textile and garments. Earnings from exports of petroleum products and rubber products also performed well in April 2011. Earnings from exports of petroleum products increased to US dollars 50 million in April 2011, reflecting higher volumes and prices of bunker and aviation fuel, stated the Central Bank.
Export earnings from rubber products continued to reflect higher levels of domestic value addition, particularly in the form of solid tyres and rubber gloves.
Earnings from agricultural exports, which accounted for 21.9 per cent of export earnings in April 2011, increased reflecting healthy growth in all major sub sectors. The average export prices of tea and rubber continued to remain high at US dollars 4.76 per kg and US dollars 5.14 per kg, respectively, the Bank added.
Earnings from other agricultural exports grew by 77.3 per cent to US dollars 30 million, mainly due to the higher prices of unmanufactured tobacco, sesame seeds and vegetables and significant increases in the export volumes.
It also said during April 2011, workers’ remittances increased by 22.1 per cent to US dollars 415 million over the same month of 2010.
While expenditure on imports increased by 53.7 per cent to US dollars 1,540 million.
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