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The merchandise export sector reported a slow start to 2021 as despite showing  overall growth in various products on a year on year basis.  

According to the information released by the Export Development Board (EDB)  January 2021 showed a revenue of $ 908.07 billion while in comparison January  of 2020 reported a revenue of $1004.9 billion showing a 9.6% drop in revenue in  January 2021.  

The drop in revenue corresponds with the drop in the absorption of products  into the markets of nations such as the United States of America, United  Kingdom and Germany which as well as Sri Lanka have taken major economic  hits due to the Covid 19 pandemic.  

The EDB highlights that the “…growth in exports in Jan 2021 is modest  compared to the last five years”. While merchandise exports have shown a  decline service exports in Jan were estimated at $ 353.98 million, a 7% increase  from the revenue in the corresponding month of 2020.  

Following the slow start the Minister of Trade Mr. Bandula Gunawardena has  urged all stakeholders to assist exporters in every possible manner as part of  further strengthening the economy as it emerges from the recession of Co-vid 19