Export agriculture and apparel recovery to short live in Covid-19 third wave
Wednesday, 16 Jun 2021

Export agriculture and apparel recovery to short live in Covid-19 third wave

24 May 2021 07:31 am

Sri Lanka’s export agriculture sector – dominated by tea, rubber and coconut along with key foreign exchange earner apparel sector recorded a recovery displaying resilience in the Covid -19 during first four months this year.

However this achievement has to short live due to severe disruptions as the intensity of the Covid-19 thired wave impact has been intensified due to dictatorial decisions taken by the government ignoring the advice of medical experts, exporters said.         
Earnings from the export of major sectors such as apparel, tea, rubber-based products, coconut-based products, spices and electrical and electronic products have improved in April as well as during the first four months compared to 2020.

 

 
Apparel export earnings in April increased by 462.38% to $ 365.04 million, whilst the first four-months growth was up 28.69% to $ 1.7 billion recorded in the same period a year earlier.


Earnings from tea saw a marginal increase of 1.14% to $ 79.26 million, whilst January to April earnings were up by 19.79% to $ 417.39 million year-on-year (YOY). It is believed that the first four-month performance was due to demand growth in UAE, China and Libyan markets.

Spices and Essential Oils earnings were also up by 85.77% to $ 22.46 million, particularly from exports of cinnamon, pepper and cloves. It also showed a significant increase of 115.4% to $ 136.76 million in the first four months compared to $ 63.49 million in the corresponding period of 2020.

 

Spices and Essential Oils earnings were also up by 85.77% to $ 22.46 million, particularly from exports of cinnamon, pepper and cloves. It also showed a significant increase of 115.4% to $ 136.76 million in the first four months compared to $ 63.49 million in the corresponding period of 2020.

Earnings from all the major categories of coconut-based products o increased by 100% to $ 55.76 million in April compared to the same period a year earlier.

Similarly, earnings from the export of all the major categories of coconut-based products increased by 52% to $ 250.49 million from January to April in the corresponding period of 2020. The improved performance was seen in exports of coconut oil, liquid coconut milk, cocopeat and activated carbon.

Rubber and rubber-finished products earnings also increased by 151.22 % YOY to $ 64.74 million in April as a result of industrial and surgical gloves of rubber (188.87%) and pneumatic retreated rubber tyres and tubes (172.72%). 

The first four months export earnings from rubber and rubber-finished products also increased by 45.47% compared to the same period a year earlier.



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