Sri Lankan exports hit October record

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COLOMBO, Nov. 19 (Xinhua) -- Sri Lanka's merchandise exports in October have crossed 1 billion U.S. dollars for the fourth consecutive month and for the fifth time this year, the country's Export Development Board (EDB) said in a statement on Friday.

"This is the highest-ever merchandise export figure in any October in our history. Opening up of Western markets together with the sustained production in Sri Lanka can be attributed to this increase," EDB Chairman Suresh de Mel said.

Merchandise export revenue stood at 1.2 billion dollars in October, 36 percent higher than in the same month in 2020. Export growth was driven by strong performance in sectors such as apparel and textile, jewellery, electronics, seafood, as well as processed food and beverages.

Exports of apparel and textiles grew 43 percent in October to 509 million dollars, making up the single largest source of export revenue.

Exports of diamonds, gems and jewellery rose by 220 percent, electronics by 87.3 percent, processed food and beverages by 155 percent, and seafood by 57 percent.

Sri Lanka's main export markets in October were the United States, Britain, and India.

The United Arab Emirates was Sri Lanka's fastest-growing export destination in October.

The EDB said that its revised export target for 2021 is 15.72 billion dollars, of which 12.14 billion dollars is expected to come from merchandise and 3.58 billion dollars from services. Enditem

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