Export earnings surpass $1 billion mark in July

COLOMBO: Export Development Board (EDB) says Sri Lanka’s earnings from merchandise exports increased by 2.18% in July 2023 compared to June 2023.

As per the provisional data released by Sri Lanka Customs, merchandise export earnings in July 2023 have surpassed the USD 1 billion mark, recording a total of USD 1,027.2 million.

However, this is a decline of 11.79% as opposed to the value recorded in July 2022, the EDB says.

This decline in merchandise exports is due to the reduced demand shown in export products, especially in apparel and textiles, rubber- and rubber-based products and coconut- and coconut-based products.