A boost to Sri Lanka Tea
The Government has taken steps to boost Sri Lanka’s tea sector to benefit the new demand coming from the ageing population in the global market, particularly from countries such as Japan, Europe and the US.
Tea production is one of the main sources of foreign exchange for Sri Lanka (formerly called Ceylon), and accounts for 2% of GDP, generating roughly $700 million annually to the economy of Sri Lanka.
It employs, directly or indirectly over 1 million people, and in 1995 directly employed 215,338 on tea plantations and estates. Sri Lanka is the world's fourth largest producer of tea. In 1995, it was the world's leading exporter of tea, (rather than producer) with 23% of the total world export, but it has since been surpassed by Kenya.
Sri Lanka’s tea exports in 2013 hit the highest-ever earnings figure, recording an income of US $ 1.54 billion, reflecting a 21.5 percent increase over the previous year. (ST/KH)
