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Rubber based export sector becomes one-billion-dollar Industry this year

Sri Lanka’s merchandise exports increased by 55.11% to US$ 1,215.6 Million in November 2021 compared to November 2020 as per the data released by the Sri Lanka Customs.

Exports maintained above one billion dollars for the fifth consecutive month in November this year.

EDB Chairman & CE, Suresh D. de Mel said, “Sri Lanka’s exports continued its remarkable achievement in November 2021, registering USD one billion monthly revenue.

The growth in exports was not only due to the effective prevention and control of the pandemic in Sri Lanka, but the commitment of exporter community to support the national economy by bringing in the much-needed foreign currency. I commend the exporters for their resilience and commitment at this time.

For the period of January to November 2021, merchandise exports increased by 22.39 % to US$ 11,116.68 Million compared to the corresponding period of 2020, following increased exports of 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

Earnings from export of Apparel & Textile increased by 23.5% to US% 4,884.86 Mn during the period of January to November 2021 compared to the same period of 2020, export of apparel and woven fabrics expanded by 26.66% and 101.86% while exports of Made-Up Textile Articles and Yarn and other Textile Articles were down by 45.69% and 9.15%, respectively.

Export earnings from Tea increased by 7.6% to US$ 1,213.75 Mn during the period of January to November 2021 compared with the corresponding period of 2020. Exports of all the sub categories of tea sector; Tea packets, Bulk Tea, Tea bags, Instant Tea and Green Tea increased by 11.28%, 3.19%, 83.33%, 19.74% and 27.76% respectively during the period of January to November 2021 compared with the same period of 2020.

In parallel, export earnings from Rubber & Rubber finished products increased by 35.62 % to US$ 999.1 Mn in January – November 2021 compared with the same period of 2020 attributed to higher exports of Industrial & Surgical Gloves of Rubber (53.31%) and Pneumatic & Retreated Rubber Tyres & Tubes (40.41%).

For the period of January to November 2021, export earnings from Coconut & Coconut based products expanded by 25.77% to US$ 766.81 Mn from the same period last year.

Earnings from all the major categories of Coconut based products increased in the period of January – November 2021 compared with the corresponding period of 2020.

Meanwhile earnings from export of Electrical and Electronic Components (EEC) increased by 31.6 % to US$ 384.5 Mn in the period of January to November 2021 compared to the corresponding period of 2020.

Export earnings from Spices and Essential Oils increased by 36.6% to US$ 412.9 Mn in the period of January to November 2021 compared to year 2020 due to the better performance in all the sub categories; Cinnamon (11.8%), pepper (139.5%), cloves (149.7%), nutmeg & mace (10.6) and Oleoresins (73.3%), etc.

Strong export performance were recorded for the 10 major export markets, which accounted for 63% of total merchandise exports during the period January to November 2021.

During the period of January to November 2021, exports to United States of America, Sri Lanka’s single largest export destination, increased by 22.1 % to US$ 2,768.67 Mn compared to the same period of 2020.

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