Lanka targets US$ 7.8 billion in export revenue this year
Anjana SAMARASINGHE
EXPORTS: The Ministry of Export Development and International
Trade targets USD 7.8 billion through exports this year.
The country recorded USD 6.8 billion last year.
 Minister of Export Development and International Trade G.L. Peiris
said they are targeting USD 7.8 billion in 2007 and are confident in
achieving the target.
Sri Lanka has recorded a 14.4% growth in the export sector during the
first five months of this year. The total imports have exceeded USD 1
billion during this period. Robust growth in exports and imports reflect
the economic growth in the country, the Minister said.
During this period exports to the USA has increased by 11 percent and
the apparel sector has showed a 10 percent growth in this market.
Exports to the UK have reported 18 percent while total exports to
Germany has increased by 42 percent. Exports to Italy has showed a
significant growth of 54% and exports to France and Netherlands
increased by 30 percent during first five months of this year. Exports
to Russia and Iran too have increased but exports to India has declined.
‘The Per Capita Income in Sri Lanka now remains at USD 1320 and Sri
Lanka is no more classified as a least developing country in the region.
However benefits of the economic growth should be delivered to the
grassroot levels,’ Prof. Pieris said.
The Ministry is aiming to strengthen the rural economy through
establishing export villages, he said.
The Ministry is also focusing on exporting services and professionals
for the enhancement of country’s export earnings.
Last year Sri Lanka earned USD 2450 million through foreign
remittances and this year the country is targeting USD 3000 million.
According to the Export Development Board (EDB) machinery, electrical
and electronic product exports recorded USD 224.7 million with 97.5%
growth. Tea exports have showed 3.31% growth while rubber exports
recorded 26% growth and coconut exports showed 50% growth during the
first five months.
Textile garments indicated a 17% growth.
Other export crops recorded an 18% growth and fisheries products
earned USD 71.92 million with a 22% growth during this period. The Gem
and Jewellery sector has gained 1.92% growth. Non metallic mineral
products recorded 5.84 % growth.
Exports of food beverages and tobacco has declined by 11.8%.
Chemicals and plastic product exports too declined by 7.75 %. |
