The Evolution of Export in Sri Lanka

Abstract

An Export is a function of International trade. Exports are the goods and services produced in one country and purchased by residents of another country. Exports are a crucial component of a country’s economy, as the sale of such goods adds to the producing nation’s gross output. When considering about the Sri Lankan economy, Export is playing a major role with international trade. Since 1977, Sri Lankan closed economy had move to the open economy and to deals with the international trade. Sri Lanka’s main export industries are Knit or crochet clothing, accessories, Clothing ,accessories (not knit or crochet), Coffee, tea, spices, Rubber, rubber articles, Ships, boats, Gems, precious metals, Machinery including computers, Electrical machinery, equipments, Fish, Other chemical goods. Considering about Export of Sri Lanka in last years, according to annual report of central bank, the country’s export performance during the last four decades that have ensued has been disappointing. But in September of 2016, the exports in Sri Lanka increased 5.7 percent year- on-year to USD million. The object and research question of this explanation identify and discuss the evolution of export and how exports effect for the Sri Lankan economy. I referred secondary data such as Central bank reports, Magazines and Internet for this analysis