Record Export Revenue of US$ 15 Bn in 2021 | Daily News

Record Export Revenue of US$ 15 Bn in 2021

An increase of 23 per cent over 2020:
Merchandise exports cross US$ 12 Bn:
Gains in all export markets:

Sri Lanka has recorded an export revenue of US$ 15.12 billion for 2021, according to Trade Minister Dr. Bandula Gunawardena.

This is an increase of 23 per cent compared to the previous year (2020), when the export revenue was reported to be US$ 12.34 billion.

For the first time in the country’s history, merchandise exports crossed the US$ 12 billion mark in 2021, earning US$ 12.5 billion. It is well above the export target of 2021 for this segment and a growth of 24 per cent compared to 2020. Almost all the major product sectors; Apparel & Textiles, Tea, Rubber-based products, Coconut based products, Electronics & Electronic Components, Spices and Concentrates, Food & Beverages, Seafood and Ornamental fish recorded increased exports.

Strong export performance was recorded for the 10 major export markets, which accounted for 63 per cent of total merchandise exports during the period January to December 2021.

During the period of January to December 2021, exports to United States of America, Sri Lanka’s single largest export destination, increased by 22.4 per cent to US$ 3,068.8 Mn compared to the same period of 2020.

The better performance was led by increase in exports of Apparel & Textile (17.89 per cent), Rubber based Products

(Pneumatic & Retreated Rubber Tyres & Tubes (47.62 per cent), Industrial & Surgical Gloves of Rubber (40.47 per cent)), Motor Vehicles Parts (151.34 per cent), Activated Carbon (40.29 per cent) and Cinnamon (17.18 per cent).

Exports to United Kingdom as the second largest trading partner recorded an increase of 2.55 per cent to US$ 933.72 Mn during the period of January to December 2021 compared with the corresponding period of previous year. During the period of January to December 2021, exports to Free Trade Agreement (FTA) partners accounted for 7.2 per cent of total merchandise exports increased by 33.57 per cent to US$ 906.99 Mn.

It is also noteworthy that monthly trade export earnings have crossed the US$ 1 billion mark in the first eight months of 2021.

Minister Dr. Gunawardena extended his special thanks to the country’s exporters for achieving the expected target by earning US$ 15.1 billion through the export of Sri Lanka’s goods and services in 2021.

“With the Government’s decision to expedite vaccinations for the country’s workforce, the hard work and commitment of industrialists is now yielding successful results,” he further said.


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