EDB optimistic of $ 13 b export revenue this year

Tuesday, 19 September 2017 00:00 - - {{hitsCtrl.values.hits}}

Capitalising on the impending trade and economic partnerships of the Government, the Export Development Board (EDB) is optimistic of achieving export revenue of over $ 13 billion by the end of this year.

“With the regaining of GSP+ and different trade agreements the Government is planning to sign, in 2017 we are expecting to achieve around $ 13.8 billion worth of export revenue,” EDB Chairperson Indira Malwatte told the Daily FT.

She pointed out that free trade agreements (FTAs) and economic partnerships with Singapore, China and India will no doubt boost export-oriented investments and trade.

In the first half exports grew by 5.2% to $ 5.4 billion as a result of high income received from exports of tea, transport equipment, petroleum products and machinery and mechanical appliances. However, export earnings from textiles and garments, gems, diamonds and jewellery and leather, travel goods and footwear declined during the period under consideration. In June export earnings rose 9.6% to $ 987 million marking the fourth consecutive month of gain.