According to Sri Lanka’s “Daily Finance” report on April 29, Sri Lanka’s merchandise exports fell by 17.31% in the first quarter of 2020 to US$2.58 billion.
According to the latest data from the Sri Lanka Export Development Board (EDB), Sri Lanka’s merchandise exports fell the most in March, down 41.93% from US$1.12 billion in the same period last year to US$645.98 million. . Merchandise exports in January were US$961 million, and exports in February were US$969.3 million.
In view of the severe impact of the new coronavirus epidemic, EDB recently lowered its 2020 export revenue forecast to US$10.75 billion, a 42% decrease from the previous forecast.
Sri Lanka’s clothing and textile exports fell by 41.23% in March to US$312.1 million, tea fell by 50.33% to US$62.52 million, and exports of rubber and rubber products fell by 35.02% , to US$55.8 million, coconut exports fell by 38.35% to US$38.24 million, and fish and fishery products fell by 53.71% to US$13.47 million from US$29.68 million in the same period last year.
Among Sri Lanka’s export products that have maintained positive growth are petroleum products and other crops. Petroleum products increased by 16.10% year-on-year to US$28.2 million, and other export crops increased by 210% year-on-year to US$6.2 million.
