Sri Lankan merchandise exports surpass revenue target for 2021

COLOMBO: Sri Lanka’s merchandise exports were recorded at $12.48 billion in 2021, surpassing the country’s export revenue target of $12.14 billion, local media citing provisional data from the Export Development Board (EDB) reported on Saturday.

Minister of Trade Bandula Gunawardena was quoted by the Daily FT as saying that Sri Lanka’s merchandise export revenue grew 24.17 per cent to $12.48 billion  etween January and December 2021.

“Hard work and commitment of industrialists along with the government’s decision of speedy vaccination of the country’s workforce started yielding results,” Gunawardena said in a statement.

Export growth in 2021 was buttressed by a 22.93 per cent growth in exports of apparel and textiles, a 25.81 per cent growth in export of coconut and coconut based products, and a 33.87 per cent growth in the export of rubber and rubber finished products.

The top destinations for Sri Lankan exports in 2021 include the United States, Britain, India, Germany and Italy.