The Board of Investment (BOI) enterprises have generated a sum of USD 8.7 Billion through merchandise exports for the year 2022, the BOI said in a statement.
The BOI pointed out that the contribution was an 8 per cent growth compared to the year 2021.
Irrespective of the economic meltdown with the gross domestic product (GDP) contracting by 11.8 per cent in 2022, the BOI enterprises have shown resilience and contributed to the national economy, it added.
Sharing statistics on the merchandise exports, the BOI stated that its enterprises have contributed 99% of National Garment Exports, 81% of National Textile exports, 93% of National Leather, travel goods, and footwear Exports, 83% of National Machinery & Mechanical Appliances Exports, 88% of National Printing Industry Products Exports and 81% of National Transport Equipment Exports.
Accordingly, textile and garment exports grew 12% to US$ 5.8 billion in 2022 compared to the US$ 5.2 billion recorded in 2021, while leather and travel goods & footwear Exports grew 52 % to US$ 80 million.
Furthermore, export earnings from Gems, diamonds & Jewellery increased by 19 % to US$ 147.57 million in 2022 while Machinery and mechanical appliances grew 16 % to US$ 484.77 million and Printing industry products exports grew 12% to 46.47 million.
Also, base metals and articles exports grew 11% to US$ 85.53 million, while Ceramic products exports grew 3% to US$ 260.66 million, the BOI statement said.
The BOI further stated that the positive performance was primarily driven by Apparel exports, which showed the highest earnings in 2022, while Rubber products showed the second highest export earnings, and Leather and travel goods & footwear Exports reordered the highest percentage in terms of growth.
The BOI added that it has always been the forerunner of Sri Lanka’s export industry contributing over 66% to the country’s overall export earnings and 85% to the national industrial export earnings. (NewsWire)