Sri Lanka’s exports during the month of August 2020 recorded a downfall of 19.2% to US$ 947.7 Mn as compared to the value of US$ 1,033.3 Mn recorded same month of last year.
Sri Lanka’s Wellness Tourism industry received a new impetus when the Sri Lanka Export Development Board (EDB) recognized Wellness Tourism as a thrust sector under the National Export Strategy (NES) 2018-22, as the island has natural and traditional endowments that can be used to develop a sustainable Wellness Tourism industry. Ever since then, the EDB has undertaken ground-breaking initiatives to make Wellness Tourism one of the top income earners of the country.
Earnings from merchandise exports rebounded in June 2020 to US $ 906.02 Mn as per the Customs statistics, with the export sector progressively commencing actions following the relaxation of lockdown measures and the recovery of both domestic and global supply and demand chains to some extent.
The world economy is in partial paralysis. The COVID-19 ripple effect is more than just a recession, it’s causing a global economic shutdown. The virus that initially triggered a supply and demand shock in China spread throughout the world creating shocks that amplified the impact; not just in the flows of trade and tourists, but also in global financial markets...........
Sri Lanka Export Development Board’s Director of the Export Agriculture Division Malani Baddegamage in an interview with Daily News Finance yesterday, stressed that Sri Lanka’s global image rose phenomenally following the outbreak of COVID 19 as buyers were convinced with the manner that the Government controlled the spread of global pandemic.
Expo 2020 Dubai is gearing up to help shape a post-pandemic world and create a better future for all after a two-thirds majority of Bureau International des Expositions (BIE) Member States voted in favour of postponing the next World Expo by one year. This global mega event will now run from 1 October 2021 to 31 March 2022.
With Sri Lanka being commended for its highly successful measures in containing the novel coronavirus which led to a global pandemic whilst many developed nations failed to do so, it is an ideal moment for the country to be positive and turn this crisis into an opportunity especially when it comes to higher education.
Total merchandise exports for Jan & Feb 2020, was US$ 1,931 which resulted in a reduction of 3.6% compared to the same period in 2019.
The Embassy of Sri Lanka in partnership with the Sri Lanka Export Development Board organized a Familiarization tour of the Jordan market for a 13 member delegation of Sri Lankan entrepreneurs from 25 – 27 February to seek entry into the Jordanian market which has been hitherto largely untapped by Sri Lanka.
The Export Development Board (EDB) yesterday called on the private sector to plan and prepare for the novel coronavirus COVID-19 challenge, which has caused market and supply chain disruptions globally since February, and is threatening to impact trade.
Sri Lanka needs to popularize boating as a lifestyle to create awareness on the boating activities among the relevant stakeholders and more importantly to increase revenue in a big way, Sri Lanka Export Development Board (EDB), Director General Jeevani Siriwardena said.
Embassy of Sri Lanka in Egypt organized a business networking event, from 23 to 25 February 2020, with the participation of a 11-member delegation of Sri Lankan exporters, facilitated by the Sri Lanka Export Development Board, funded by the Ministry of Foreign Relations, under the Economic Diplomacy Programme. This event focused on promoting selected Sri Lankan products having a high demand in the Egypt markets namely; Ceylon Tea, Coconut Products, Rubber Products and Spices.
According to the latest customs provisional data the total exports from Sri Lanka in January 2020, recorded a marginal increase of 0.96% in comparison to the similar period of the previous year, due to the merchandise exports recording a drop of 7.41% and the projected growth of 26% of Service exports, The merchandise exports stood at US$ 961 Mn in January 2020, which is lesser than US$ 77 Mn, in January 2019. The figure for Service exports has not yet been released and the EDB has projected figures based on the past published records. It was revealed that only in the year 2019 the exports recorded over one billion in comparison to the figures of the last five years.
Prabhash Subasinghe, Chairman - EDB, predicted a bright future for Sri Lanka’s fruit and vegetable exporters, as the new government under the guidance of HE President Gotabaya Rajapaksa has placed a great emphasis to develop agriculture via advanced technologies. Subasinghe encouraged the fruit and vegetable exporters to exploit the opportunities from the new government’s people-centric economic development policies to generate a higher export income. He made these remarks during a meeting with the industry leaders last week at the EDB.
Prabhash Subasinghe, Chairman, EDB, urged rubber industry leaders to strive towards achieving greater heights in exports during his maiden discussion with the industry representatives last Wednesday (19th February 2020) since assuming office.