Home / Knowledge / News / Textiles / Exports mark a remarkable surge of 17 percent
Exports mark a remarkable surge of 17 percent
22
Jul '08
Exports from Sri Lanka touched US $746 million in May 2008 mounting by 17.0 percent over last year. This remarkable growth has been recorded largely due to export earnings from diamonds, jewelry, garments and textiles.

However, a major chunk of the contribution was made by the agricultural sector reflecting the impact of hike in global food and energy prices.

On the other hand, mineral exports including gems held a one percent share in total exports and which fell over the previous year. However, cumulative exports during the period January to May 2008 registered a growth of 12.6 percent over the corresponding period last year, amounting to $3,234 million.

Import value touched $1.258 million in the month of May increasing by 24.2 percent over the previous year.

Like always, spending on imports of petroleum continued to increase accounting for 58.3 percent of the increase in import expenditure in May 2008.

Imports excluding petroleum grew by 25.1 per cent to US dollars 4,360 million for the first five-months of 2008.

Besides, capital goods imports also increased and accounted for 5.5 percent of the increase in import expenditure in May this year. Cumulative expenditure on imports during the period January to May 2008 grew by 34.8 percent when compared with the corresponding period last year, and amounted to $5,813 million.

While the overall balance of payments recorded a surplus of $292 million by the end of May 2008, gross official reserves amounted to $3,355 million.


Must ReadView All

New US alliance to promote postal package delivery service

Textiles | On 15th Aug 2018

New US alliance to promote postal package delivery service

A group of US retailing, e-commerce and logistics firms recently...

Courtesy: Industriall Union

Apparel/Garments | On 15th Aug 2018

IndustriALL-Esprit agreement to improve workers' rights

IndustriALL Global Union recently signed a global framework agreement ...

Indian minister orders fresh consultations on e-com policy

Textiles | On 15th Aug 2018

Indian minister orders fresh consultations on e-com policy

Indian commerce and industry minister Suresh Prabhu has asked for...

Interviews View All

Top executives
Textile industry

GST has levelled the playing field to an extent

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Mr Ambrose Chan
DSG International (Thailand) PLC

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search