Dollar starving Sri Lanka’s total exports for the month of April 2024 was recorded as US$ 1.4 Billion increasing 1.25 % over the corresponding period of 2023. As per the provisional data released by Sri Lanka Customs, the merchandise export performance in April 2024 amounted to US$ 813.81 million, recording a decrease of 4.1 % compared to April 2023.
The estimated value of services exports for the month of April 2024 was US$ 300.41 Million, increasing 19.28 % over the corresponding period of 2023.
Export earnings from tea which made up 12% of merchandise exports, increased by 2.22 % y-o-y to US$ 95.46 Mn in April 2024 compared to April 2023. This increase is mainly due to the strong performance of the export of Bulk Tea (increased by 12.08%).
Furthermore, the volume of tea exports increased by 12.03 % in April 2024 compared to April 2023. Additionally, Tea exports to UAE, Iraq and Saudi Arabia markets increased by 61.25 %, 57.11 % and 40.23 % respectively.
Moreover, Export earnings from Rubber and Rubber Finished products have increased by 20.18 % y-o-y to US$ 66.58 Mn in April 2024, with a strong performance in exports of Pneumatic & Retreated Rubber Tyres & Tubes (36.09 %).
On monthly analysis, export earnings of Coconut-based products increased by 17.73 % in April 2024 compared to April 2023. Moreover, export earnings of Coconut kernel products, Coconut fibre products and Coconut shell products increased by 26.31 %, 10.55 % and 9.98 % respectively in April 2024 compared to April 2023.
Export earnings from Coconut Oil, Desiccated Coconut, Coconut Cream and Liquid Coconut Milk which are categorized under the Coconut kernel products increased by 18.2%, 45.85 %, 46.79 % and 35.92 % respectively in April 2024 compared to April 2023.
Being the largest contributor to the coconut-based sector, Coco Peat, Fiber Pith & Moulded products which are categorized under the Coconut fibre products, increased by 17.23 % to US$ 15.38 Mn in April 2024 in comparison to April 2023.
Earnings from Activated Carbon, which is categorized under the Coconut shell products increased by 10.3 % to US$ 11.35 Mn in April 2024 compared to April 2023.
