Industrial exports increase 76% in 2011

The majority of Sri Lanka's exports are industrial exports and their significance grew even further in 2011.

Garment workers sew pants in a Brandix factory, which exports many of the items to the European Union,

A countrywide industry Census is expected in 2013. "In 2010 the total industrial exports from our overall annual exports was 72percent, at $ 6154 m. This ratio has increased to 76.44 percent in 2011 to $ 8016.6 m showing the growing importance of our industrial thrust.

We are also planning to launch a countrywide non-BOI industry census next year" Ministry of Industry and Commerce sources said.

The Central Bank said that the external sector remained buoyant in 2011 with expanding external trade, growing services inflows and workers' remittances and higher long-term inflows of direct investments and inflows to the government amidst challenging external environment.

Earnings from exports increased by 22.4 percent to $10,487 m in 2011 on a year -on -year basis in comparison to 2010. Industrial exports, from total exports stood at 76.4percent in 2011. Among the industrial exports, textiles and garments grew by 24.6percent to$ 4,201m in 2011.

"2011 was a better year for exports in comparison to 2010.

The development policies of President Mahinda Rajapaksa have begun to pay dividends. To sustain this trend, we need to diversify our exports basket and the our international markets further" Minister of Industry and Commerce Bathiudeen said.

"We are also planning to launch a countrywide non-BOI industry Census in 2013.

This will be in partnership with the Department of Census and Statistics. The details of the Census will be worked out in the due course", Minister Bathiudeen said.