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Sri Lanka targets export earnings of 12.5 bn in 2015: EDB Chief
17 Mar, 2015 13:15:36
Mar 17, 2015 (LBO) – Sri Lanka plans to increase its export earning to 12.5 billion US dollars in 2015 by exporting more value added products, Export Development Board’s (EDB) chief says.

“If you really look at exports, we have currently recorded 11.5 billion as the total exports except IT/BPO,” Bandula Egodage, chairman and chief executive EDB told LBO.

“We will definitely go for 12.5 billion US dollars this year without services.”

According to data released by the Central Bank of Sri Lanka the islands exports grew 7 percent in 2014 to 11,117.6 million US dollars.

Sri Lanka exported 10,394.3 million US dollars’ worth of goods and services in 2013.

Industrial exports surged 6.5 percent to 8,249.6 million US dollars in 2014 while agricultural sector reports 8.2 percent growth to 2,793.9 million US dollars in 2014 compare to a year earlier.

However he argues to achieve the said target, the exports should be value added.

“But with branding and International events coming to our country we can move further, because we do not get real value for our export now since we still export lot of goods in raw forms,” Egodage said.

“We need to export more value added product making use of the trade agreement the country is in to,”

“The market for value added products are vast out there,”

“If we have real value addition for products the brand that we want to create for Sri Lanka will be automatically created.”
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