• Highest ever monthly figure achieved in 2021, an increase of 1.33% over July 2020 
• Earnings from apparel and textile sector decreased by 3.1% YoY to US $ 452.55mn
• Export earnings from tea decreased by 12.06% YoY to US $ 115.13mn
• US was single largest export destination during Jan.-Jul.; UK was second 

Sri Lanka’s merchandise export earnings surpassed the US $ 1 billion mark in July, after a lapse of four months, where a similar achievement was only recorded in March during this year. 

As per the figures released by the Sri Lanka Customs, Sri Lanka recorded export earnings to the tune  of US $ 1,099.41 million in July 2021, the highest ever monthly figure achieved for this year, which was an increase of 1.33 percent over July 2020 and an increase of 12.39 percent in July 2019.

Export Development Board (EDB) Chairman Suresh de Mel said, “Sri Lanka’s exports show a remarkable rise despite the current pandemic situation across the world, thanks to the utmost courage, determination and continuous improvements shown by our exporters in sustaining export business during the pandemic.”

Export earnings from rubber and rubber finished products increased by 13.6 percent year-on-year (YoY) to US $ 96.65 million in July 2021, with strong performance in exports of pneumatic and retreated rubber tyres and tubes and industrial and surgical gloves. However, exports of gaskets, washers, seals, etc. of hard rubber declined by 42.78 percent YoY to US $ 6.26 million.

Export earnings from spices and essential oils increased by 11.47 percent YoY with significant increases in cinnamon (11.09 percent), pepper (7.37 percent), cloves (21.11 percent), essential oils (11.57 percent) and oleoresin (45.45 percent). Further, export earnings from spices and essential oils increased by 28.88 percent in July 2021 in comparison to June 2021.

Meanwhile, export earnings from electrical and electronic products recorded an increase of 22.7 percent YoY while seafood exports rose 119.05 percent YoY.

Except for coconut fibre products, earnings from coconut kernel and shell products, increased in July 2021 compared with July 2020 and there was a  notable performance in export of coconut cream and activated carbon.
Although earnings from the apparel and textile sector decreased by 3.1 percent YoY to US $ 452.55 million in July 2021, earnings from apparel and woven fabrics under the apparel and textiles sector increased by 2.76 percent and 69.43 percent, respectively in July 2021 compared with July 2020. 

Further, export earnings from apparel increased by 9.27 percent in July 2021 in comparison to June 2021.
However, export earnings from made-up textile articles and other textile articles which gained high export revenues last year decreased by 72.64 percent and 26.34 percent, respectively in July 2021, in comparison to July 2020.
Export earnings from tea in July 2021, which made up 12 percent of merchandise exports, decreased by 12.06 percent YoY to US $ 115.13 million and export volume also decreased by 8.92 percent YoY. Moreover, export earnings from tea recorded a 7.09 percent decrease in July 2021 in comparison to June 2021. 

Meanwhile, in the period of January to July 2021, merchandise exports increased by 22.17 percent YoY to US $ 6,661.13 million, following increased exports of apparel and textiles, rubber-based products, coconut-based products, electronics and electronic components, spices and concentrates, seafood and ornamental fish.

Export earnings from rubber and rubber finished products increased by 41.98 percent YoY to US $ 616.59 million in January-July 2021, due to the better performance of exports of industrial and surgical gloves of rubber (68.64 percent) and pneumatic and retreated rubber tyres and tubes (44.96 percent). 

Earnings from all the major categories of coconut-based products increased due to the improved performance in export of coconut oil, desiccated coconut, coconut milk powder, liquid coconut milk, coconut cream, cocopeat, mattress fibre and activated carbon.

Meanwhile, the single largest export destination for Sri Lanka during the January-July 2021 period was the United States, which accounted for US $ 1.63 billion, up 16.23 percent YoY. 

Exports to the United Kingdom as the second largest trading partner recorded an increase of 13.79  percent to US $ 525.35 million during the period of January to July 2021 compared with the corresponding period of previous year. 

On a region-wise comparison, exports to all other regions increased except ASEAN countries and CIS regions during the period of January to July 2021 compared with the corresponding period of the previous year. 
Meanwhile, earnings from services exports during January-July 2021 period was estimated at US $ 1.88 billion, compared to Rs.1.48 billion in the same period last year.