Total annual exports for 2014 have experienced a surge by 6.7%, giving a total of US $11 bn. The month of December has especially shown a growth trend of 9%. Commenting on this, Minister of Industry and Commerce, Rishad Bathiudeen said, “We have a total $11 Bn of 2014 annual provisional merchandise exports just released by EDB, which is a year on year increase of 7%, compared to the 2013 figures.”

Minister Bathiudeen also added that the Ministry is set to concentrate on reviving the lost GSP plus facilities as well as work to expand the exports system in Sri Lanka, under President Sirisena’s direction. These announcements were made during the mini-installation event of Bandula Egodage as the Chairman and CEO of the Exports Development Board (EDB) which functions under his Ministry.

Sri Lanka’s exports for the year 2014 totalled $11.079 bn, rising Year-on-Year by 6.67%. These provisional numbers do not yet reflect the service exports values and therefore, actual exports values are expected to be much higher.

Apparels rose by 9.26% from 2013 and earned $4.9 bn in 2014, industrial products earned $8bn after seeing a rise of 6.1%, tea exports came at $1.6 bn rising by 5.43%, agriculture products was recorded at $2.7 bn rising by 9% and manufactured products came at $2.4 bn after rising by 9%. Coconut exports were up by 49% to $538 mn while fisheries increased by 8.5% to $265 mn.

Exports of natural rubber had declined by 36% to $46 mn while other export crops dropped by a mere 3% to $506 mn. Diamonds and gems too experienced a decline of 15%, to $ 372 mn.

Taken on a month-on-month basis, 2014 December provisional monthly exports surged across the board totalling $10.01 bn and growing by 8.72%. These numbers too, do not yet reflect the service exports values of December.

Apparel exports in December rose by 7.3% to $450 mn, industrial products rose by 9.7% to $734 mn, manufacturing exports rose by 22% to $234 mn, agri exports rose by 5% to $239 mn, tea by 1.5% to $138 mn, natural rubber up by 50% to $2.79 mn, other export crops grew by 26% to $58 mn, and fisheries were up by 7.8% to $22.83 mn. Declines experienced by coconuts (8% to $40 mn) and diamonds, gems and jewellery (11% to $25 mn).