News |
|
|
The Ministry 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 Prof.G.L.Peiris said the Ministry is targeting USD 7.8 billion in 2007 and are confident in achieving the target.
Sri Lanka has recorded a 14% growth in the export sector during the first five months of this year. The total imports have exceeded USD 1 billion and imports reflect the economic growth in the country, the Minister said.
Prof. G.L.Peiris expressed there issues at a Press Conference organized to elaborate the future plan of the Ministry at Department of Commerce Auditorium recently. |
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 Germeny 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 not more classified as a least developing country in the region. However benefits of the economic growth should be delivered to the grassroot levels, Prof.Peiris 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%. |
|
|
