Sri Lanka Exports Surge Past USD 7.3 Bn In Five Months

COLOMBO (News 1st); Sri Lanka has generated export earnings exceeding USD 7.3 billion during the first five months of the year, reflecting a strong performance by the country's export sector, according to the Export Development Board (EDB).The figure represents a 7.5 percent increase compared to the corresponding period last year.Speaking on the latest export performance, Export Development Board Chairman Mangala Wijesinghe said Sri Lanka's apparel, coconut-based products and rubber sectors have emerged as some of the most significant contributors to export earnings growth.Wijesinghe noted that the apparel industry continues to be the country's leading export earner, generating USD 2.063 billion during the first five months of the year.Speaking about the industry's future prospects, he said Sri Lanka has set an ambitious target of earning more than USD 8 billion in export revenue from the apparel sector within the next five years.The EDB Chairman also highlighted the strong performance of coconut-based exports, which generated approximately USD 512 million during the first five months of the year.He pointed out that coconut exports recorded growth of more than 20 percent compared to the same period last year, underlining the increasing global demand for Sri Lankan coconut-based products.The rubber industry has also continued its positive momentum. Wijesinghe said the sector earned nearly USD 900 million in export revenue last year, while the first five months of this year alone have already generated USD 404 million.According to him, rubber export earnings have increased by nearly five percent compared to the corresponding period of the previous year.Looking ahead, Wijesinghe said there is a clear objective to further expand the rubber export sector, with a long-term goal of helping the industry achieve USD 2 billion in export earnings.