Exports turnaround in 2013, surge by 6.2%

Thursday, 23 January 2014 00:39 - - {{hitsCtrl.values.hits}}

Apparels, agriculture lead rebound in exports to top $10 b mark

Sri Lanka’s exports last year produced a healthy rebound, gaining by 6.2% to $ 10.37 billion mark after having suffered a dip of 7% in the 2012.

The Ministry of Industry and Commerce said yesterday that according to the latest provisional figures of the Export Development Board, 2013 cumulative exports earnings stood at $ 10,379.94 m, growing by 6.2% from 2012’s annual export revenues of $ 9,773.63 m. High-performing export ‘drivers’ were agriculture products, apparels, ‘other export crops’ and even industrial products, thereby contributing to the turnaround. Surging along were the tea and fisheries products sectors. On a YoY basis from ’12 to ‘13, agriculture products grew by 10.3% to $ 2,479.94 m, apparels by 13.31% to $ 4,492.20 m, other export crops up by 42.9% to $ 521.43 m, and industrial products rose by 4.91% to $ 7,618.20 m. Tea surged YoY by 9.22% to $ 1,526.75 m and fisheries products rose by 19.14% to $ 244.43 m. Rubber, unclassified products, petroleum, gems and jewellery showed a slight decline, while manufacturing and coconuts showed very minute percentages of decline while largely staying stable. “The EDB and I thank our exporters for their commitment for this strong performance,” said Industry and Commerce Minister Rishad Bathiudeen, commenting on the latest provisional annual export performance numbers following a briefing by officials yesterday.