Sri Lanka March exports surge 54-pct

Textile and apparel, the country’s key industrial export rose 68.3 percent to 473 million US dollars, rubber products rose 75.6 percent to 79.1 million US dollars and food beverages and tobacco rose 30 percent to 58.4 million US dollars, the Central Bank said.

Agricultural exports rose 40.3 percent to 219.6 million US dollars with revenues from tea rising 27.5 percent to 134.6 million US dollars.

The central bank said the average export price of tea was high around 4.86 dollars a kilogram in month. Rubber prices were up 70 percent from a year earlier to 5.1 dollars a kilogram.

Exports or petroleum products had risen 361 percent with rising prices and volumes of aviation fuel and bunkering oils.

Food, base metals, minerals and precious metals have surged against the paper US dollar in recent months as money printing by the Federal Reserve pushed US currency down against real goods and services.

Sri Lanka’s imports also rose 73 percent to 1.69 during March. Imports of textile and clothing which are inputs to future apparel exports rose 115 percent to 253 million US dollars.

Petroleum, a key intermediate good that keeps the economy ticking rose 74 percent to 298 million US dollar.

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