Export earnings hit $ 6.9 bn upto August

Sri Lanka’s export earnings from January to August 2011 climbed to US $ 6.9 bn (US $ 6966 mn) resulting in 28.6% increase in comparison to the corresponding period in 2010, according to the Exports Development Board.

The improved export performance was driven by industrial products (35.9%) and agricultural products (13.6%) despite the other major sector, fisheries registering a drop (-15.3%) in performance, the Industry and Commerce Ministry said.

Petroleum products (166.3%) and ships and boats (117.0%) led the industrial sector’s January to August earnings.

Textiles and garments contributed 39.5% to the total export earnings and have increased by 27.4%.

Other top gainers in the industrial sector are rubber finished products (increased by 69.2%), food, beverages and tobacco (41.6%), non-metallic mineral products (38.8%), leather products (36.3%), wooden products (31.6%), electrical, electronic and machinery (27.04%), diamonds, gems and jewellery (24.9%), chemical products (22.8%), paper & paper products (11.5%), plastic products (14.7%), base metal products (12.4%), and footwear (5.6%). However earnings from transport equipment and parts (-11.2%) have registered a negative performance.

Within the agriculture sector earnings from coconut kernel products increased by 87.3%, followed by natural rubber (46.9%), essential oils (46.1%), coconut fibre products (27.9%), spices (24.5%), cutflowers and foliage (17.8%), vegetable (16.2%) and fruits (14.0%). Even earnings from tea increased by 3.1%.

As for the fisheries sector, except for other fisheries products (-19.8%), the earnings from other two sub sectors -aquarium fish (1.8%) and crustaceans (4.03%)-have increased during the period under review, the Ministry said.