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Tuesday, November 26, 2024

Home Business Sri Lanka plans to increase annual exports to 31.3 b USD by 2027

Sri Lanka plans to increase annual exports to 31.3 b USD by 2027

by News desk
August 3, 2023
in Business

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Sri Lanka’s Export Development Board (EDB) on Wednesday said it is developing a five-year strategic plan to increase the country’s annual exports to 31.3b U.S. dollars by 2027.

The EDB also plans to increase Sri Lankan exports to the country’s top 10 existing export markets by 10 percent annually, and identify 10-15 potential new markets and increase Sri Lanka’s market share in them by 5 percent annually.

The exports will be expanded by promoting customized value-added products and services to the identified niche markets at premium prices, the EDB said. Earnings from exports in Sri Lanka surpassed 13b U.S. dollars in 2022 for the first time, recording an increase of 4.9pc from the highest recorded in 2021.—Xinhua