Sri Lanka's export trade sector grows 11.1%

Ceylon Today

16/11/2014

Sri Lanka's export trade sector grows 11.1%

Sri Lanka's Export Trade sector recorded a relatively a higher growth of 11.1 per cent in second quarter 2014, when compared to the slower growth of 1.2 per cent recorded in the second quarter of 2013, Department of Census and Statistics said in its Quarterly Estimates of Gross Domestic Product report released recently.

According to the Balance of Payment statistics of Central Bank of Sri Lanka, export earnings increased to Rs343,058 million in the second quarter of 2014, from Rs291,274 million in the second quarter 2013, indicating a growth of 17.8 per cent, said the Census and Statistics Department.

Sri Lanka's Export Trade sector recorded a relatively a higher growth of 11.1 per cent in second quarter 2014, when compared to the slower growth of 1.2 per cent recorded in the second quarter of 2013, Department of Census and Statistics said in its Quarterly Estimates of Gross Domestic Product report released recently.

According to the Balance of Payment statistics of Central Bank of Sri Lanka, export earnings increased to Rs343,058 million in the second quarter of 2014, from Rs291,274 million in the second quarter 2013, indicating a growth of 17.8 per cent, said the Census and Statistics Department.

Compared to the second quarter of 2013, agricultural and industrial exports grew by 26.5 per cent and 15 per cent respectively. According to the Trade Indices of Central Bank, export volume index and unit value, index have increased by 11.6 per cent and 5.6 per cent respectively in second quarter 2014.
Sri Lanka will import 50,000 metric tonnes of rice from Bangladesh to ensure food security and control the escalating price of Sri Lankan's staple food.

The Sri Lankan Cabinet, according to the Colombo Page web site, has given its approval for the purchase of rice stock from Bangladesh on a government-to-government basis. The measure has been taken in anticipation of the demand that will arise during the forthcoming Yala Harvest festive season.

The import of rice is to be carried out immediately and the stocks will be distributed through island wide supermarkets of Lanka Sathosa, the state-owned wholesale and retail grocery network at an affordable price.

Sri Lanka's rice harvest has been hit by the prolonged drought in the rice growing districts of Polonnaruwa, Hambantota, Moneragala, Ampara and Vavuniya.

The proposal to purchase this stock of rice from Bangladesh was submitted to the Cabinet by President Rajapaksa in his capacity as Minister of Finance. Meanwhile, Sri Lanka and Mauritania signed an agreement to establish a Joint Commission on Cooperation to further strengthen relations between the two countries.

The signing took place following bilateral talks between Sri Lankan President Mahinda Rajapaksa and President of Mauritania Mohamed Ould Abdel Aziz at the President's Office.
During the meeting between the two presidents, Mauritania requested for Sri Lanka's expertise and assistance in developing a number of sectors, including mining, health, vocational training, fisheries and agriculture.

Pointing out the advancements Sri Lanka has made in all these areas, President Rajapaksa said Sri Lanka is more than happy to assist in keeping with its overall policy of enhancing relations with Africa.
"We have been taking measures to strengthen our relations in Africa," President Rajapaksa said. (Reuters)