Sri Lanka’s export earnings recorded the highest value in its history in 2022. It is more than 13 billion US dollars. The Central Bank of Sri Lanka said export earnings in 2022 were 4.9% higher than the peak recorded in 2021. The country’s export income exceeded 13 billion US dollars for the first time in history.
Previously, the highest export revenue in history was achieved in 2021. The revenue there was 12.5 billion US dollars. In the last year 2022, an export income of 13.1 billion US dollars has been obtained. For this growth, industrial exports including garments, gems, diamonds and jewellery, machinery and mechanical equipment and petroleum products have led to the increase in this income.
There, the highest income is earned from the export of textiles and clothing. Compared to 2021, its export growth in 2022 is USD 516.9 million. The gems, Diamonds and Jewellery sector’s increase in export earnings compared to 2021 is USD 173.8 million.
Last December, merchandise export income increased to 1,068 million US dollars. It is an increase of 7.7% compared to December 2021.
Meanwhile, the total import cost in 2022 has decreased by 11.4%. It was shown as 18,291 million US dollars. This is due to the non-emergency import restrictions and the foreign exchange liquidity problems that existed in the market for most of 2022.
As a result, the trade account deficit in 2022 has come down to USD 5,185 million, the lowest since 2010, from USD 8,139 million in 2021, the Central Bank of Sri Lanka added.
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