Sri Lanka’s  earnings from exports has declined for the 16th consecutive month in June 2016 on a year-on-year basis, mainly due to the substantial reduction in price levels of export commodities in the international market, the Central Bank said last week.

Accordingly, earnings from exports declined by 5.0 per cent, year-on-year, to US dollars 897 million in June 2016 from US dollars 944 million recorded in June 2015, led by lower export performance recorded in petroleum products, transport equipment and spices.
On a cumulative basis, earnings from exports during the first half of 2016 contracted by 5.8 per cent, year-on-year, to US dollars 5,108 million mainly due to reduction in export earnings from transport equipment, petroleum products, tea and spices.