14.4 % growth in exports in first five months of 2007

Sri Lanka's export sector recorded a 14.4% (in terms of value) positive growth during the first five months of the year, compared to the corresponding period in 2006 Export Development Board (EDB) sources said. This positive trend is reflected in all major export sectors.

Agricultural exports grew by 9.6%, fisheries 22% and industries by 14.6%. Sri Lanka's exports to its main markets have also increased significantly during the period. Exports to the EU market grew by 30% while exports to the US increased by 11%.

In the agricultural sector, earnings from tea exports increased by 3%, desiccated coconut by 87%, spices 18%, essential oils 74%, fresh fruit 20%, vegetables 10% and cut flowers and foliage by 18.6%.

Industrial exports which account for 70% of the total exports have shown a positive growth in all major sub sectors.

The textiles and garment sector export recorded $1286.95 million compared to $ 1099.55 million in the corresponding period in 2006.

Jewellery exports have increased by 64%, wooden products 45%, paper products 13%, rubber products 13% and footwear by 53%.

Meanwhile, the EDB has added a "Professional Service" to its promotional agenda. In the professional service promotion the EDB has set three goals.

Firstly, to create an awareness among Sri Lankan service providers about existing export opportunities in various foreign markets, setting up an institutional framework to support the service sector and provide market information.

The second goal is to promote and establish the credibility of Sri Lankan service exporters in foreign markets and establish a market penetration mechanism. The third goal is to enhance the supply capacity of Sri Lanka in service exporting.

GW