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Steady increase in export earnings

Jul 6, 2010 4:17:22 AM - itnnews.lk

There has been a steady increase of export earnings in Sri Lanka.

The gross official reserves increased to 5440 million and 5215 million US dollars respectively in April 2010. According to a news release issued by the Central Bank, earnings from exports grew by 24.2 percent in April to 543 million US dollars led by higher earnings from industrial and agricultural sectors. The largest contribution to the growth in exports was from the industrial sector led by a significant increase in exports of machinery and equipment. This comprised mainly of transport equipment such as boats, bicycles and electrical equipment.

Export of rubber and petroleum products and diamonds and jewellery have also increased. Agricultural exports which accounted for 22.4 percent of export earnings in April 2010 increased year on year reflecting a sound performance by tea, rubber, coconut and minor agricultural sectors.