July 2008 export earnings are reported to be up by 24.1 percent from last year to a record highest level of US $ 849 million, following the marginal decline witnessed in June 2008, the Central Bank of Sri Lanka said.
According to latest CB reports, agricultural exports grew by 54.7 percent, bolstered by 70.0 percent share of tea, as a result of both improved prices and higher volumes.
Prices of tea, which have been on an increasing trend from early 2007, increased further, pushing the average price of tea to US $ 4.17 per kg in July 2008.