Sri Lanka’s tea industry witnessed a remarkable surge in September 2024, with tea production reaching a seven-year high of 24.13 million kilos, according to provisional data released by the Sri Lanka Tea Board. This marks a 27.7% increase compared to September 2023’s unusually low production of 18.9 million kilos. Despite ongoing challenges such as adverse
A broader conflict in the Middle East could significantly impact Sri Lanka’s tea exports, petroleum imports, and remittance inflows, according to the Central Bank of Sri Lanka (CBSL). The CBSL highlighted that the country has substantial trade exposure to the region, with nearly 46% of its tea exports directed to Middle Eastern markets. Additionally, tea
Sri Lanka’s export sector witnessed a notable boost in July 2024, with merchandise exports rising by 6.58% year-on-year to reach 1,087.6 million US dollars, according to official data. Apparel exports, a key contributor, grew by 3.8%, supported by increased demand from the US market. From January to July 2024, total merchandise exports climbed by 4.94%,
Sri Lanka’s merchandise export performance for June 2024 reached $1,031.2 million, marking a 2.58% increase compared to June 2023. This growth was driven by higher earnings from apparel & textiles, tea, rubber-based products, coconut-based products, food & beverages, and spices & concentrates. Compared to May 2024, exports in June 2024 rose by 1.97%. Services exports
The Sri Lanka Tea Board announced that exports of Ceylon Tea have successfully offset $60 million of the country’s fuel bill owed to Iran. Since 2011, Sri Lanka had accumulated arrears of $251 million for fuel imports from Iran. Chairman Niraj De Mel noted that this settlement was achieved as tea exports to Iran tripled