Economy
Export income soars to USD 1,139 million in March 2024
Merchandise export earnings surged by 9.8 percent to US dollars 1,139 million in March 2024, marking a notable increase from the US dollars 1,037 million recorded in March 2023. All major export categories experienced growth, with industrial exports leading the pack. This rise in industrial goods exports can be attributed primarily to petroleum products, buoyed by increased volumes in bunkering and aviation fuel exports. Textiles and garments also saw a significant uptick in export earnings.
In the agricultural sector, earnings improved, driven by robust performances in tea and coconut-related products, despite a notable decline in spice exports. Mineral exports experienced a slight uptick in earnings during March 2024.
The month-on-month comparison also reveals positive trends, particularly in textiles and garments, which saw their highest earnings since December 2022.
