Business
Sri Lanka’s Export Performance up in August 2022
Earnings from the merchandise exports increased by 10.24 % y-o-y to US$ 1,213.7 Mn in August 2022 according to Customs data mainly due to the increase in earnings from export of Apparel & Textiles. The Export Development Board said last week.
EDB Chairman/CEO, Suresh D. de Mel, congratulates the exporters for their great effort to increase foreign exchange earnings for the country during this critical period and also thanked the staff of the EDB and other supporting agencies for their untiring support to facilitate exports under highly disruptive circumstances.
Monthly Merchandize Export Performance, 2020 – August 2022 in Millions of US$
Sources: Central Bank of Sri Lanka, Sri Lanka Customs & Sri Lanka Export Development Board
Major Exports in August 2022
Major product sectors except coconut based products (down 3.7%) performed well led by Apparel & Textiles, Tea, Rubber based products, Electrical & Electronic components, Spices & Concentrates Diamonds, Gems & Jewellery, Food & Beverages, Seafood & Ornamental fish as shown in the table 1 below, recorded increased exports in August 2022.Exports of Apparel & Textiles increased by 15.03% y-o-y to US$ 565.37 Mn in August 2022. The increase was driven by apparel.
Export earnings from tea in August 2022 which made up 11% of merchandise exports, increased by 6.52% y-o-y to US$ 124.41 Mn. This was mainly due to the higher export of packeted tea s (11.42%). Export earnings from Rubber and Rubber Finished products have increased by 8.11% y-o-y to $ 99.83 million in August 2022, with better performance in exports of pneumatic & retreaded rubber tyres & tubes (24.03%).
Export earnings from the Electrical & Electronics Components increased by 14.03 % y-o-y to US$ 41.86 Mn in August 2022 with strong performance in exports of insulated wires & cables (8.49%) and other electrical & eectronic products (24.41%).Export earnings from seafood increased by 37.04% to US$ 25.53 Mn in August 2022 compared to August 2021. Except shrimps & lobsters, export earnings from frozen fish and fresh fish increased by 69.88% and 56.39% respectively in August 2022.Further, export earnings from Ornamental fish increased by 140.63% to US$ 2.31 Mn in August 2022 compared to August 2021.
In addition, export earnings from Spices and Essential Oils increased by 0.8% to US$ 40.11 Mn in the month of August 2022 compared to month of August 2021 due to the better performance in export of Cinnamon (24.84%) and essential oils (2.31%). On monthly analysis, except shell products export earnings of kernel products and fiber products categorized under the Coconut based products decreased by 10.79% and 7.55% respectively in August 2022 compared to August 2021. Major Exports during the period of January – August 2022
For the period of January – August 2022, merchandise exports increased by 12.04% to US$ 8,853. Million compared to the corresponding period of 2021. Major product sectors except Tea, Rubber-based products and Spices & Concentrates; Apparel & Textiles, Coconut based products, Electronics & Electronic Components, Gems & Jewellery, Food & Beverages and Seafood as shown in the table 1 below, recorded increased exports.
Apparel & Textile exports increased by 19.3% to US$ 4,082.81 Mn during the period of January to August 2022 compared to the same period of 2021. Except Made-up Clothing Accessories (-9.8%), Knitted fabrics (-1.02%), Yarn (-15.61%) and Textile Floor Coverings (-14.35%); exports of other sub categories of Apparel & Textiles sector increased.
Export earnings from Rubber & Rubber finished products slightly decreased by 0.46% to US$ 705.7 Mn in January – August 2022 compared with the same period of 2021 attributed to lower exports of Industrial & surgical Gloves (-15.79%). However, exports of Pneumatic & Retreated Rubber Tyres & Tubes increased by 9.42% during the period of January to August 2022 compared with the same period of 2021.
Meanwhile earnings from export of Electrical and Electronic Components (EEC) increased by 11.87 % to US$ 311.17 Mn in the period of January to August 2022 compared to the corresponding period of 2021. Export of Insulated wires increased by 15.83% in during the period of January to August 2022 to US$ 54.65 Mn compared with the corresponding period of previous year. In addition, export of Printed Circuits, Switches, Boards & Panels, Electrical Transformers and Other Electrical & Electronic Products increased by 40.65%, 3.89%, 10.89% and 11.77 % respectively during the period of January to August 2022 compared with the corresponding period of previous year.
Export earnings from Seafood increased by 13.83% to US$ 188.36 Mn in the period of January to August 2022 compared to year 2021 due to the better performance in all the sub categories except Lobsters; Frozen Fish (4.37%), Fresh Fish (31.47%) and Prawns (47.75%).In addition, earnings from export of ornamental fish increased by 9.76% to US$ 13.83 Mn during the period of January to August 2022 compared to year 2022.
For the period of January to August 2022, export earnings from Coconut & Coconut based products expanded by 6.37% to US$ 572.71 Mn. Earnings from all the major categories of Coconut based products increased during the period of January – August 2022 compared with the corresponding period of 2021 due to the improved performance in export of Liquid Coconut Milk, Cocopeat, Brooms & Brushes, Mattress Fiber, Activated Carbon, Coconut Oil and Desiccated Coconut.
However, export earnings from Tea decreased by 7.16% to US$ 819.31 Mn during the period of January to August 2022 compared with the corresponding period of 2021. Exports of all the sub categories of tea sector except Tea Bags; Tea packets (-7.04%), Bulk Tea (-7.16%,), Instant Tea (-24.56%) and Green Tea (-31.15%) decreased during the period of January to August 2022 compared with the same period of 2021.
Export earnings from Spices and Essential Oils decreased by 17.3% to US$ 234.39 Mn in the period of January to August 2022 compared to year 2021 due to the poor performance in all the sub categories; Cinnamon (-3.88%), pepper (-19.29%), cloves (-58.41%), nutmeg & mace (-17.95%), cardamom (-56.52%) and essential oils (-25.53%).
Sri Lanka’s Export Performance in Major Markets
Strong Export Growth recorded for top 10 export markets in the period of January to August 2022. The single largest export destination of United States of America recorded US$ 2,308.75 Mn worth of exports in the period of January to August 2022 – a significant year on year increase of 21.19 % in comparison to US$ 1,905.02 Mn recorded in 2021.
Exports to United Kingdom as the second largest trading partner recorded an increase of 12.91 % to US$ 682.56 Mn during the period of January to August 2022 compared with the corresponding period of previous year.
Exports to FTA Partners
During the period of January to August 2022, exports to Free Trade Agreement (FTA) partners accounted for 7.2% of total merchandise exports increased by 10.11 % to US$ 623.17 Mn.
Although Exports to India increased by 12.77 % y-o-y to US$ 570.46 Mn, exports to Pakistan decreased by 12.28% to US$ 60.08 Mn during the period of January to August 2022 compared with the corresponding period of 2021.
Increased Exports to India is mainly supported by increased exports of Animal Feed (16.42%), Arecanuts (67.28%), Woven fabrics(96.17%) and Wood pulp (35.39%) in January – August 2022.
Sri Lanka’s Export Performance in Regions
On a region wise comparison exports to all regions except Asean and CIS countries increased during the period of January to August 2022 compared with the corresponding period of 2021.
During the period of January to August 2022, breakdown of exports to the top five EU markets which accounted for 80% of Sri Lanka’s total exports to the EU were; Germany US$ 514.75 Mn (increased by 6.93 %), Italy US$ 414.26 Mn (increased by 10.95 %), Netherlands US$ 274.28 Mn (increased by 1.53 %), Belgium US$ 215.49 Mn (increased by 0.27 %) and France US$ 177.78 Mn. (increased by 16.4 %).
Export of Services
The estimated value of services exports for the period of Jan-August 2022 was 1,310.05 Million dollars, increasing 5.58 % over the corresponding period of 2021. The services exports estimated by EDB consists of ICT/BPM, Construction, Financial services and Transport & Logistics.
Policy & Strategic Planning Division
16.09.2022
Business
GS1 Lanka drives Sri Lanka’s shift to 2D barcodes
GS1 Lanka marked its 10th Annual General Meeting with a focus on the next stage of product identification in Sri Lanka, as businesses prepare for the wider adoption of 2D barcodes and the growing demand for trusted product information.
Addressing the AGM, GS1 Lanka president Revan Fernando noted that GS1 has been giving Sri Lankan products a globally recognised identity for more than 30 years. He pointed to the shift from traditional barcodes to 2D barcodes as the next major step, particularly as consumers increasingly look beyond a product’s identity to information they can trust about its origin, ingredients, authenticity and use.
GS1 Sunrise 2027 is a global industry initiative aiming to transition retail checkout systems to read 2D barcodes such as QR codes and Data Matrix codes alongside traditional 1D UPC stripes by the end of 2027
Under its Sunrise 2027 initiative, GS1 Lanka is working with the retail and healthcare sectors to prepare businesses for the transition to 2D barcodes. Unlike a conventional barcode used at checkout, a GS1 QR code can also connect consumers to a wider range of product information and support traceability and product verification through GS1 standards.
Fernando also called on brands to get involved in the transition, noting that the change will require businesses to rethink how they use the limited space on product packaging and how they communicate with consumers. GS1 Lanka will also introduce a new retail information platform to help member brands provide richer product information and improve the presentation of their products to consumers.
GS1 Lanka CEO Alikie Perera said the organisation’s work is increasingly focused on helping Sri Lankan businesses keep pace with changes in global supply chains and consumer expectations. The next phase will place greater emphasis on 2D barcodes, GS1 Digital Link, traceability and digital product information, as businesses prepare for a more connected and information-rich marketplace.
At the local level, GS1 Lanka continued its awareness programmes for entrepreneurs, SMEs, manufacturers and exporters, covering product identification, barcode standards, traceability, supply chain efficiency and market access. The organisation has also seen growing adoption of GS1 Activate and Verified by GS1, with more than 5,500 member companies registered on the platforms and over 20,000 product records uploaded.
The AGM concluded with a recognition of the contribution of GS1 Lanka’s members, partners, Board and team, while setting the direction for the organisation’s continued work to bring global standards and new product identification technologies into wider use among Sri Lankan businesses.
Business
Sri Lanka must rethink plastics before waste crisis deepens, says OUSL Vice Chancellor
By Ifham Nizam
Sri Lanka’s plastic problem can no longer be treated simply as a waste-disposal issue, with the country facing mounting pressure on its coastal environment, fisheries, communities and public health, Vice Chancellor of The Open University of Sri Lanka Senior Professor P. M. C. Thilakerathne said.
The country must move beyond collecting and disposing of plastic waste and fundamentally rethink how plastics are designed, produced, consumed and recovered, Prof. Thilakerathne said, calling for a national shift towards a circular economy.
Addressing the 3rd International Conference on Plastics, Innovations and Environmental Sustainability, he said Sri Lanka’s experience, particularly the environmental fallout from the 2021 X-Press Pearl disaster, demonstrated why plastic pollution required urgent national attention.
The X-Press Pearl disaster resulted in large quantities of plastic pellets being released into Sri Lanka’s coastal waters, with impacts extending to marine biodiversity, fisheries and coastal livelihoods.
For an island nation whose economy and communities are closely connected to the sea, he said, plastic pollution could not be viewed as an environmental issue separate from national development.
” For Sri Lanka, these figures are not abstract,” Prof. Thilakerathne said, pointing to the global growth in plastic production and waste.
The world produces hundreds of millions of tonnes of plastics annually, while only a small proportion of plastic waste is recycled. A substantial amount ends up in landfills or is leaked, dumped or otherwise mismanaged.
The scale of the global problem has direct relevance to Sri Lanka, he said, because waste that is inadequately collected or managed can ultimately find its way into waterways and the ocean.
The Vice Chancellor said Sri Lanka therefore needed to strengthen not only waste collection and recycling but also the systems that determine what products enter the waste stream in the first place.
“Much of the waste problem is decided at the drawing board,” he said.
Products should be designed for reuse, recycling and disassembly, while businesses should be encouraged to adopt models based on refill, repair and reuse rather than continued dependence on single-use plastics.
He said Sri Lanka also had an opportunity to develop locally appropriate alternatives using renewable resources and agricultural residues.
The country’s coconut industry and other agricultural resources could support research into alternative materials, he said, but scientists must ensure that such substitutes were genuinely environmentally sustainable and did not simply shift the environmental burden elsewhere.
For Sri Lanka, the challenge is particularly important because plastic pollution intersects with several economic sectors.
Fishing communities depend directly on healthy marine ecosystems, while tourism depends heavily on the country’s beaches, coastal areas and natural environment.
Plastic pollution can therefore translate into economic and livelihood pressures in addition to its ecological consequences, Prof. Thilakerathne said.
He also warned that the problem extended beyond visible plastic waste.
Microplastics and nanoplastics have been detected in drinking water, food and air, while research into their potential effects on human health is continuing.
The longer-term public-health implications represented an important area for scientific research, he said.
Prof. Thilakerathne called for stronger cooperation between universities, government institutions, industry and local communities to develop solutions suited to Sri Lanka rather than relying solely on technologies or approaches developed elsewhere.
Universities, he said, had a responsibility to generate the evidence needed for national policy and to ensure that research reached the communities and industries expected to implement it.
This is where OUSL could make a particular contribution, given its nationwide network and large population of students, including working adults, teachers, professionals and learners from rural communities.
The university plans to strengthen environmental sustainability and circular-economy principles across its curriculum, expand professional education on waste management and sustainable materials, develop international research partnerships and improve sustainable practices within its own campuses and centres, he said.
Prof. Thilakerathne also called attention to the thousands of people who earn a living through informal waste collection and recycling.
Any national strategy, he said, must recognise the contribution of these workers and ensure that the transition towards a circular economy does not leave them economically vulnerable.
Sri Lanka has already introduced restrictions on a number of single-use plastic products, but the Vice Chancellor said regulations must be accompanied by enforcement, investment in recovery infrastructure, industry participation and changes in consumer behaviour.
At the international level, he said, Sri Lanka also needed to contribute actively to efforts to address plastic pollution, backed by credible national scientific research.
The global nature of the plastics trade and pollution meant that action by individual countries alone would not be sufficient.
The conference therefore provided an opportunity for Sri Lankan researchers to connect local environmental challenges with international research and technological developments, he said.
Addressing young researchers and students, Prof. Thilakerathne urged them to measure the value of their work not only by academic publications but also by its ability to produce practical change.
He encouraged researchers to work across disciplines, engage with policymakers and industry, and remain connected to communities affected by the problems they study.
“The most meaningful research is that which changes practice,” he said.
He said Sri Lanka’s plastic crisis ultimately required a change in the country’s approach to materials, consumption and waste.
“Our task is not to abandon the material that shaped the modern world but to make it compatible with the sustainable one,” Prof. Thilakerathne said.
Business
The internationally acclaimed play ‘Every Brilliant Thing’ comes to Sri Lanka
Prepare for a theatrical experience that brings people together and celebrates life. The Peterite Arts Foundation, in proud association with World Vision Lanka, announces the showing of an amateur production arranged with Casarotto Ramsay & Associates Ltd. Every Brilliant Thing, the acclaimed solo play by Duncan Macmillan and Jonny Donahoe. Directed by Theruni Indrapala, the play’s lead is played by former Peterite Mario de Soyza. This uplifting, interactive production will run at Kamatha Studio, BMICH, Colombo, from 05 to 08 November 2026.
Every Brilliant Thing tells a deeply moving yet joyful story. At seven, the narrator begins listing everything worth living for, from ‘ice cream’ and ‘things with stripes’ to ‘rollercoasters’, hoping to help his mother through depression. Over time, the list grows to more than a million entries and becomes a lifelong source of comfort for the narrator.
What began as a short monologue in 2006 has grown into a global phenomenon, performed in more than 80 countries across five continents. Its hopeful message has reached audiences in extraordinary settings, including aboard the USS George H.W. Bush aircraft carrier. The play has also been translated into 44 languages, including Arabic and Greek, with a special Chinese adaptation titled Every Brilliant Little Thing.
The play’s need for emotional intelligence, openness and a strong connection with the audience attracted a distinguished line-up of performers. Following a successful West End run featuring Sue Perkins and Minnie Driver, the play made its Broadway debut at the Hudson Theatre, where it ran from 21 February to 9 August 2026. Tony Award winner Daniel Radcliffe opened the Broadway production, receiving critical acclaim and a Tony nomination for Best Lead Actor in a Play. Law & Order: SVU icon Mariska Hargitay then made her official Broadway debut in the role, followed by Golden Globe winner Tracee Ellis Ross, who closed the run.
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