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Thursday, January 26, 2012 - 7.09 GMT

Exports surge in 2011


Sri Lanka’s January to November exports in 2011 recorded US $ 9,581.4 Mn, surging from $ 7841 Mn in the corresponding period of 2010.

The export performance has increased by 22.2% on a year on year basis. What is also very encouraging to note is that our export surge is driven by the industrial sector, said Rishad Bathiudeen, Minister of Industry and Commerce.

According to the Central Bank, exports of machinery and equipment, petroleum products, rubber based products, diamond and jewellery, food, beverages and tobacco and textile and garments continued to record healthy growth levels in November 2011, compared with the corresponding month of 2010.

Industrial exports grew by 35% in November 2011 in which machinery and equipment increased substantially by 97.3% in November 2011 compared to November 2010.

The export value of boats manufactured in Sri Lanka doubled in 2009 to US $ 58 million from $ 22 million in 2008. In 2010 the value of boat exports was US $ 64 million and up to August 2011 it has almost doubled reaching US $ 124 million.

Also contributing to the rise in exports is the textiles and garments industry, whose exports rose by 28.5%.





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Last modified: January 26, 2012.

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