Sri Lanka’s exports continue to fall as tea tumbles by 20%
Exports fell by 5.9% to US$ 850 million in September 2015, a decline that has continued since March 2015. Industrial exports were the hardest hit, falling by 4.7%, with lower shipments of rubber products, gems, diamonds and jewellery, machinery and mechanical appliances and printing industry products reported.
Tea exports fell in particular, a 20.4% in September of this year compared to the same month in 2014, according to official data. The Sri Lankan government plans to artificially raise the price of tea by purchasing from the tea auction, in an attempt to stabilise the market, said Lanka Business Online.