Industries grab a huge 76% of Lanka's booming exports
Minister Rishad Bathiudeen
The majority of Sri Lanka’s exports are industrial exports and their
significance grew even further in 2011. A countrywide industry census is
coming in 2013. “In 2010 the total industrial exports from our overall
annual exports was 72%, at $ 6154 million. This ratio has increased to
76.44% in 2011 to $ 8016.6 million showing the growing importance of our
industrial thrust. We are also planning to launch a countrywide non-BoI
industry census next year” said Rishad Bathiudeen, Minister of Industry
and Commerce of Sri Lanka.
Minister Bathiudeen, who is currently in Geneva, was acknowledging
the latest external sector performance numbers released by the Central
Bank of Sri Lanka. Last week, 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 per cent
to US $ 10,487 million in 2011 on a year on year basis in comparison to
2010. Industrial exports, from total exports stood at 76.4% in 2011.
Among the industrial exports, the textiles and garments grew by 24.6%
US $ 4,201 million in 2011. Among the industrial exports, the textiles
and garments grew by 24.6 per cent to US $ 4,201 million in 2011.
“2011 was a better year for exports in comparison to 2010. The
development policies of President Mahinda Rajapaksa have begun to pay
the dividends. In order to sustain this trend, we need to diversify our
exports basket and our international markets further” Minister
“We are also planning to launch a country-wide 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
due course” Minister Bathiudeen announced.