Merchandise exports up by 4.18% to USD 1.16 Bn in Aug.
Sri Lanka’s merchandise export performance in August 2024 recorded an increase of 4.18 % to US$ 1,165.4 million, compared to the month of August 2023, as per the provisional data released by the Sri Lanka Customs.
This was mainly due to the increase in earnings from export of apparel & textiles, tea, rubber based products and Coconut based products and spices and concentrates. Furthermore, export performance in August 2024 increased by 3.1 % compared to July 2024. The estimated value of services exports for the month of August 2024 was US$ 318.77 million, increasing 6.49 % over the corresponding period of 2023.
Consequently, total exports for August 2024, including both merchandise and services, were recorded at US$ 1,483.13 million, increasing 4.67 % over the corresponding period of 2023. Export earnings from tea, which made up 12% of merchandise exports, increased by 9.11 % y-o-y to US$ 130.54 Mn in August 2024. This increase is mainly due to the positive performance in the export of Bulk Tea (5.78%) and Tea packets (11.43%). Additionally, Tea exports to Iraq and Iran markets increased by 13.35 % and 114.41 % respectively.
Export earnings from Rubber and Rubber finished products have increased by 29.48 % yoy to US$ 103.79 Mn in August 2024.On monthly analysis, export earnings of Coconut based products increased by38.3 % in August 2024. In addition, export of Activated Carbon, which iscategorized under Coconut shell products, increased by 27.93 % to US$ 13.74 Mn in August 2024. Export earnings from Spices and Concentrates increased by 8.55 % to US$ 52.04 Mn in the month of August 2024 mainly due to the strong performance in export of Pepper (31.56%).
BOI Toastmasters Club holds installation for new office bearers
The BOI Toastmasters Club held its annual installation ceremony for the new office bearers for the year 2024/25 on September 26, marking a new chapter for the club.
The event was graced by the presence of District Director DTM Ganga Fernando, who provided invaluable insights into the journey of leadership and personal development within the Toastmasters community.
The ceremony featured a captivating keynote address by Chevaan Daniel, Executive Director, Capital Maharaja Group, a renowned speaker and industry leader. Daniel encouraged participants to embrace challenges and continuously strive for excellence.
The highlight of the event was the installation of the new office bearers who took the helm with a vision to enhance the club’s initiatives and foster a supportive environment for all members.
Creating historic landmark in CSE DFCC launches Green Bonds
Creating a major historic landmark in the Colombo Stock exchange, (CSE) DFCC bank yesterday launched Green Bonds in addressing pressing environmental challenges while enabling investors to contribute to a sustainable future.
Country Director Sri Lanka Asian Development Bank Takafumi Kadono said that green financing is very important as it can save a huge amount of finances that were allocated for post damage mitigation of business and agri environment.
He said natural disasters like floods create major crop losses to agro sector and in addition to other businesses. “Helping to provide solutions to stop these climate related damages also gives investment opportunities to the corporate sector.”