Sri Lanka's Apex Organisation for Export Promotion
EDB Chairman Suresh de Mel stated that the export target would certainly witness a revision due to the week-long travel restrictions that have come into effect and several areas being caught under the isolation. However, he said it is too premature to assess the impact or divulge the revised target. He noted that the revision is ‘absolutely necessary’.
Sri Lanka’s export performance continued its upward momentum in the first three months of 2021. Due to the Covid-19 pandemic induced lockdown last year, exports were contracted by a record 64.63 per cent in April 2020. However in April this year, exports grew up by 183 per cent to US$ 798.9 Mn in comparison to the previous year.
The Sri Lanka Export Development Board (EDB) has made arrangements to facilitate export-oriented industries based on the circulars issued by the Government Health Authorities to continue operations of their activities during lockdown of specific areas in the country and inter-provincial travel restrictions subject to stringent health regulations.
Sri Lanka surpassed $ 1 billion exports in March 2021 after a lapse of six months period. As per the Customs statistics, earnings from merchandise exports recorded double digit growth of 62.47% in March 2021 on y-o-y comparison – the March figure being US$ 1,066.1 Mn.
Sri Lanka’s export earnings registered a growth of 2.52% with US$ Mn 993.73 in February, compared to the previous year, maintaining the growth momentum recorded during the last five months as per the provisional statistics released by Sri Lanka Customs. This is the highest export figure recorded for the month of February during the last five-year period.
Hon. Bandula Gunawardana, Minister of Trade urged the whole stakeholders to actively engage in assisting all exporters of the country in every possible manner during this turbulent period enabling exporters to strengthen our economy.
Sri Lanka Export Development Board (SLEDB) new Chairman Suresh de Mel this week expressed confidence of giving the best shot at realising a near $ 16 billion target for 2021 despite domestic and global challenges. This confidence stems from a plethora of new initiatives as well as fine-tuning existing endeavours to develop and boost exports.
The Sri Lanka Export Development Board (EDB) is forecasting a performance of $ 15.68 billion in merchandise and service shipments in 2021.
The US$ 13.5 billion export target set for merchandise export sectors in early 2020 remains challenging, requiring not only strong efforts from local enterprises, but also the recovery of global demand amid complicated Covid-19 situation. Amid severe impacts of the Covid-19 pandemic, Sri Lanka’s merchandise exports remain at US$ 9.9 billion in 2020, which is a 104 % achievement from the revised forecast of US$ 9.5 billion.
Against a transformative and competitive regional backdrop, Sri Lanka aspires to become South Asia’s logistics hub. The leading impetus to this ambitious vision is Sri Lanka’s National Export Strategy (NES); and its prominence to the logistics industry. Directly employing roughly over 50,000 people industry-wide, the sector has an ambitious vision to grow from a traditional transshipment hub to a regional logistics center. Recognized as one of the fastest-growing transshipment hubs in the world, Sri Lanka offers a unique package of innovative multi-modal logistics services.
Export Development Board (EDB) Chairman Prabhash Subasinghe yesterday urged that boosting exports must be everyone’s priority, as the key agency set an ambitious yet achievable target of $ 18.5 billion this year, up by 15% from 2019. EDB revealed that as per provisional data, last year Sri Lanka’s total merchandise and service exports amounted to $ 16.14 billion up by 1.44% from 2018. The composition was merchandise exports were $ 11.9 billion, up 0.13% and service exports were $ 4.2 billion, up by 5.3% from 2018. EDB originally targeted $ 18.5 billion exports for 2019, and the estimated performance reflects achievement of 87% of the goal.
Prabhash Subasinghe, Chairman EDB had a discussion with the leading public and private stakeholders of the country’s logistics sector last Tuesday (29th January) at the EDB as part of the series of initial meetings he had launched with the various industry sectors since assuming office.
Sri Lanka yesterday launched the official website announcing the country’s participation in the six-month long Expo 2020 Dubai, anticipating a major boost to exports, tourism and investments while looking to enhance the country’s brand value and image globally.
Mahela Jayawardena and Kumar Sangakkara - two of the most iconic cricketers produced by the country has come on board as Sri Lanka’s Brand Ambassadors for Expo 2020 Dubai organized by the Sri Lanka Export Development Board (EDB) as a public private cooperation project .
Expolanka Freight Ltd. (EFL), a pioneer provider of global logistics, took home the award for Best Exporter of Logistics Services, at the Presidential Export Awards (PEA) 2018/19, held on 19 September at the BMICH.
The 23rd Presidential Export Award Ceremony (PEA) organized by the Sri Lanka Export Development Board (EDB) was successfully held on 19th September 2019 under the patronage of His Excellency the President of Sri Lnaka at the Bandaranaike Memorial International Conference Hall (BMICH), Colombo with the participation of the large number of exporters. The award winners were presented a prestigious PEA Trophy and a Certificate & they have the privilege to use the “Award Logo” as a marketing tool for a 3 year period.
The 23rd Presidential Export Award Ceremony organized by the Sri Lanka Export Development Board (EDB) will be held on Thursday 19th September 2019 at the Bandaranaike Memorial International Conference Hall (BMICH) under the patronage of His Excellency the President of Democratic Socialist Republic of Sri Lanka.
Sri Lanka’s participation at Expo 2020 Dubai is set in a spectacular manner to ensure the strengthening of the country’s trade, tourism, and investments. The Sri Lanka Export Development Board plays a critical role, together with private and state organisations, to landmark Sri Lanka’s presence at this global event.
