Forty percent increase in agri export earnings
Agricultural exports which account for nearly one-fourth of the total
export earnings increased by 40 percent in 2013.
According to the Central Bank's Annual Report 2013 earnings from
agricultural exports increased by 10.7 percent, year-on-year to US$
2,581 million in 2013. Earnings from tea exports increased by 9.2
percent to reach the highest ever annual earnings of US$ 1,542 million
in 2013 mainly due to the high price obtained by Ceylon tea on amount of
its superior quality. The average export price of tea rose by 9.3
percent to US$ 4.82 per kilogram in 2013.
Export earnings from other agricultural products such as spices,
vegetables, unmanufactured tobacco, minor agricultural products and
seafood increased substantially in 2013 contributing to the overall
growth in agricultural exports.
Earnings from the export of spices increased by 38.8 percent to US$
355 million in 2013. This was mainly due to the increase in earnings
from pepper exports by 82.9 percent to US$ 128 million and an increase
in earnings from the export of cloves by 169.4 percent to US$ 50
Earnings from the export of unmanufactured tobacco and minor
agricultural products increased by 12.9 percent and 33.3 percent in 2013
mainly due to the favourable weather conditions.
Export earnings from seafood increased by 18.1 percent during the
year to US$ 234 million with increased earnings from processed fish,
frozen fish and molluscs, the report said.