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Earnings from the merchandise exports increased by 10.24 % y-o-y to US$ 1,213.7 Mn in August 2022 according to Customs data mainly due to the increase in earnings from export of Apparel & Textiles. The Export Development Board said last week.

EDB Chairman/CEO, Suresh D. de Mel, congratulates the exporters for their great effort to increase foreign exchange earnings for the country during this critical period and also thanked the staff of the EDB and other supporting agencies for their untiring support to facilitate exports under highly disruptive circumstances.

Monthly Merchandize Export Performance, 2020 – August 2022 in Millions of US$

Sources: Central Bank of Sri Lanka, Sri Lanka Customs & Sri Lanka Export Development Board

Major product sectors except coconut based products (down 3.7%) performed well led by Apparel & Textiles, Tea, Rubber based products, Electrical & Electronic components, Spices & Concentrates Diamonds, Gems & Jewellery, Food & Beverages, Seafood & Ornamental fish as shown in the table 1 below, recorded increased exports in August 2022.Exports of Apparel & Textiles increased by 15.03% y-o-y to US$ 565.37 Mn in August 2022. The increase was driven by apparel.

Export earnings from tea in August 2022 which made up 11% of merchandise exports, increased by 6.52% y-o-y to US$ 124.41 Mn. This was mainly due to the higher export of packeted tea s (11.42%). Export earnings from Rubber and Rubber Finished products have increased by 8.11% y-o-y to $ 99.83 million in August 2022, with better performance in exports of pneumatic & retreaded rubber tyres & tubes (24.03%).

Export earnings from the Electrical & Electronics Components increased by 14.03 % y-o-y to US$ 41.86 Mn in August 2022 with strong performance in exports of insulated wires & cables (8.49%) and other electrical & eectronic products (24.41%).Export earnings from seafood increased by 37.04% to US$ 25.53 Mn in August 2022 compared to August 2021. Except shrimps & lobsters, export earnings from frozen fish and fresh fish increased by 69.88% and 56.39% respectively in August 2022.Further, export earnings from Ornamental fish increased by 140.63% to US$ 2.31 Mn in August 2022 compared to August 2021.

In addition, export earnings from Spices and Essential Oils increased by 0.8% to US$ 40.11 Mn in the month of August 2022 compared to month of August 2021 due to the better performance in export of Cinnamon (24.84%) and essential oils (2.31%). On monthly analysis, except shell products export earnings of kernel products and fiber products categorized under the Coconut based products decreased by 10.79% and 7.55% respectively in August 2022 compared to August 2021. Major Exports during the period of January – August 2022

For the period of January – August 2022, merchandise exports increased by 12.04% to US$ 8,853. Million compared to the corresponding period of 2021. Major product sectors except Tea, Rubber-based products and Spices & Concentrates; Apparel & Textiles, Coconut based products, Electronics & Electronic Components, Gems & Jewellery, Food & Beverages and Seafood as shown in the table 1 below, recorded increased exports.

Apparel & Textile exports increased by 19.3% to US$ 4,082.81 Mn during the period of January to August 2022 compared to the same period of 2021. Except Made-up Clothing Accessories (-9.8%), Knitted fabrics (-1.02%), Yarn (-15.61%) and Textile Floor Coverings (-14.35%); exports of other sub categories of Apparel & Textiles sector increased.

Export earnings from Rubber & Rubber finished products slightly decreased by 0.46% to US$ 705.7 Mn in January – August 2022 compared with the same period of 2021 attributed to lower exports of Industrial & surgical Gloves (-15.79%). However, exports of Pneumatic & Retreated Rubber Tyres & Tubes increased by 9.42% during the period of January to August 2022 compared with the same period of 2021.

Meanwhile earnings from export of Electrical and Electronic Components (EEC) increased by 11.87 % to US$ 311.17 Mn in the period of January to August 2022 compared to the corresponding period of 2021. Export of Insulated wires increased by 15.83% in during the period of January to August 2022 to US$ 54.65 Mn compared with the corresponding period of previous year. In addition, export of Printed Circuits, Switches, Boards & Panels, Electrical Transformers and Other Electrical & Electronic Products increased by 40.65%, 3.89%, 10.89% and 11.77 % respectively during the period of January to August 2022 compared with the corresponding period of previous year.

Export earnings from Seafood increased by 13.83% to US$ 188.36 Mn in the period of January to August 2022 compared to year 2021 due to the better performance in all the sub categories except Lobsters; Frozen Fish (4.37%), Fresh Fish (31.47%) and Prawns (47.75%).In addition, earnings from export of ornamental fish increased by 9.76% to US$ 13.83 Mn during the period of January to August 2022 compared to year 2022.

For the period of January to August 2022, export earnings from Coconut & Coconut based products expanded by 6.37% to US$ 572.71 Mn. Earnings from all the major categories of Coconut based products increased during the period of January – August 2022 compared with the corresponding period of 2021 due to the improved performance in export of Liquid Coconut Milk, Cocopeat, Brooms & Brushes, Mattress Fiber, Activated Carbon, Coconut Oil and Desiccated Coconut.

However, export earnings from Tea decreased by 7.16% to US$ 819.31 Mn during the period of January to August 2022 compared with the corresponding period of 2021. Exports of all the sub categories of tea sector except Tea Bags; Tea packets (-7.04%), Bulk Tea (-7.16%,), Instant Tea (-24.56%) and Green Tea (-31.15%) decreased during the period of January to August 2022 compared with the same period of 2021.

Export earnings from Spices and Essential Oils decreased by 17.3% to US$ 234.39 Mn in the period of January to August 2022 compared to year 2021 due to the poor performance in all the sub categories; Cinnamon (-3.88%), pepper (-19.29%), cloves (-58.41%), nutmeg & mace (-17.95%), cardamom (-56.52%) and essential oils (-25.53%).

Sri Lanka’s Export Performance in Major Markets

Strong Export Growth recorded for top 10 export markets in the period of January to August 2022. The single largest export destination of United States of America recorded US$ 2,308.75 Mn worth of exports in the period of January to August 2022 – a significant year on year increase of 21.19 % in comparison to US$ 1,905.02 Mn recorded in 2021.

Exports to United Kingdom as the second largest trading partner recorded an increase of 12.91 % to US$ 682.56 Mn during the period of January to August 2022 compared with the corresponding period of previous year.

During the period of January to August 2022, exports to Free Trade Agreement (FTA) partners accounted for 7.2% of total merchandise exports increased by 10.11 % to US$ 623.17 Mn.

Although Exports to India increased by 12.77 % y-o-y to US$ 570.46 Mn, exports to Pakistan decreased by 12.28% to US$ 60.08 Mn during the period of January to August 2022 compared with the corresponding period of 2021.

Increased Exports to India is mainly supported by increased exports of Animal Feed (16.42%), Arecanuts (67.28%), Woven fabrics(96.17%) and Wood pulp (35.39%) in January – August 2022.

Sri Lanka’s Export Performance in Regions

On a region wise comparison exports to all regions except Asean and CIS countries increased during the period of January to August 2022 compared with the corresponding period of 2021.

During the period of January to August 2022, breakdown of exports to the top five EU markets which accounted for 80% of Sri Lanka’s total exports to the EU were; Germany US$ 514.75 Mn (increased by 6.93 %), Italy US$ 414.26 Mn (increased by 10.95 %), Netherlands US$ 274.28 Mn (increased by 1.53 %), Belgium US$ 215.49 Mn (increased by 0.27 %) and France US$ 177.78 Mn. (increased by 16.4 %).

The estimated value of services exports for the period of Jan-August 2022 was 1,310.05 Million dollars, increasing 5.58 % over the corresponding period of 2021. The services exports estimated by EDB consists of ICT/BPM, Construction, Financial services and Transport & Logistics.

Policy & Strategic Planning Division 16.09.2022

Royal Park Condominium celebrates 25 years of luxury living

News Scooter with local value addition launched

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Sri Lanka’s first luxury condominium complex, Royal Park condominium recently marked 25 years, a momentous milestone in providing luxury accommodation to a generation that grew up in sprawling multi-bedroom homes.

Built and developed by Keangnam Enterprises (previously Keangnam Korea) in 1997, the property consists of 248 luxury apartments housed within the condominium’s two towers, each comprising of 24 floors, complete with two penthouses in each tower. Approximately 1,500 workers were involved in the construction of the condominium, a news release from the developer said.

“Despite being one of Sri Lanka’s first true luxury, condominium developments, Royal Park’s construction proceeded at record pace for its time, having handed over its units to the community’s first residents just over three and a half years from commencement of construction.”

Sharing his experiences on the continuing legacy of Royal Park 25 years on, Keangnam (Ceylon), General Manager overlooking Royal Park at its inception, and a resident of the complex for almost 20 years, Major General (Rtd) Tilak Paranagama, emphasized the importance of mutual respect and camaraderie displayed by residents of Royal Park over the years.

“It’s been an absolute pleasure to live at Royal Park, as the common value system here is based on decency and respectfulness of each other. It is an extremely homely atmosphere, and the design and layout of the premises too lends itself to ensuring that residents have ample space for daily fellowship,” he said.

He also noted that with condominiums being a new concept to Sri Lankans in the mid-1990’s, the development of the complex also came with its share of novel challenges.

“As it was the first of its kind, we had to make sure that each unit was constructed perfectly. My team and I would personally look into every aspect from planning the construction, including preparation and initiation of survey plans, electrical and water meters for each individual apartment.

“I was also part of establishing Royal Park’s first ever Management Committee and together, we formulated a comprehensive constitution for it. 25 years later. I am incidentally the only surviving member of the original Management Council, but I’m happy to see that the systems, and most importantly the culture that we created back then still continues to thrive to this day,” he reminisced. Over time, Royal Park has been home to almost three generations, with children who moved in with their parents during the last 25 years, now residing with their own young families, contributing to the strong sense of family and community.

“I first moved into Royal Park when I was around nine years old, and I have since met people of all ages, races and nationalities – everywhere from Azerbaijan to Zimbabwe. Royal Park is definitely a paradise for any child growing up, as there is always a friend around to keep you company, and some of my closest friends are people I met here. Royal Park has always had a beautiful community – they are always down to have a good time, but most importantly they will always be there for you in your time of need,” added Tashiya Ekanayake (29), a current resident of the Condominium.

The complex is especially ideal for children of all ages who are presented with a very different experience from a typical high-rise, most often creating lifelong friendships with each other. The children’s play area comes alive every evening, kids riding bicycles on the path surrounding the beautiful gardens, teenagers playing basketball and residents joining each other for fellowship in the vast common areas, are all familiar sights at Royal Park.

Royal Park Condominium provides a truly holistic living experience, achieving that perfect balance in offering its residents a modern living space while retaining an extremely homely atmosphere. Spread across a sprawling four acres in the heart of Colombo, Royal Park boasts of beautiful manicured gardens; its tending being overlooked by a devoted resident.

Two large Ehela trees greet you at the entrance of the premises, with its long winding driveway leading to a large spacious sunlit lobby. Just beyond is a large ground floor pool and kiddies pool, bordered by a children’s play area, restaurant and sitting area, tennis court and jogging/ walking tracks.

The facility is also complete with all modern amenities, a well-equipped gym, sauna, squash court, table tennis court, a Cargills Express mini supermarket, salon, laundry, and an ATM just adjacent to the main entrance. In addition, the spacious apartments offer spectacular views of the Royal Colombo Golf club, the Kinda Canal Wetland which is home to remarkable birdlife, the Colombo skyline, the port and the ocean beyond, giving Royal Park a truly unique appeal. A competent resident-run Management Council overlooks all aspects of the management and maintenance of the premises, complete with monthly meetings and Annual General Meetings carried out with the participation of the Condominium Management Authority.

As such, regular maintenance upgrades, daily maintenance and attention to detail ensures that the complex remains pristine, safe and comfortable to all its residents. In maintaining these high standards of safety and quality of the common facilities, upgrades in the Service Elevators, Main Control Panels, fuel storage, submersible pumps, lobby and restaurant areas to name a few, were carried out during the last financial year only.

The management, safety and maintenance of the premises is handled by competent staff members consisting of the Condominium Manager Ms.Christine Hassim, Command Center Coordinator Mr. W A C Wanasinghe and Engineering and Maintenance Head, Mr. Indika Deshapriya, and their respective teams.The permanent staff at the complex consists of 29 dedicated team members, whilst 29 sub contractors’ staff diligently handle areas such as security, janitorial and accounts, many of whom have been employed at Royal Park for over a decade, adding familiarity and a sense of safety and comfort to the residents.Royal Park Condominium has truly stood the test of time, weathered many a storm, and celebrates this significant milestone triumphant in its ability to remain a home to many more generations to come. (Royal Park news release)

The DYNO Scooby 125 EFi Scooter was recently launched by Inventive Automobiles (Private) Limited. DYNO Scooby 125 Scooters are assembled in Sri Lanka using 14 locally manufactured components under the new Standard Operation Procedures (SOP) imposed by the Ministry of Industries, a news release from the assemblers said last week.

Speaking at the launch, Mr. Lester Carron, Director of the Company said, “The DYNO Scooby 125 has key features such as, a high performance 125cc EFi Engine which provides an increased fuel efficiency, front Disc Brake with mechanical ABS for added safety, and a longer wheelbase for increased stability. The Scooter has both electric and kick starter, all of which makes it the ideal vehicle for the entire family. Other features are, Digital meter, more luggage space, higher ground clearance, backed by an attractive introductory price and most importantly an island-wide after sales network makes this the best buy.”

DYNO Scooby 125 is manufactured by Dyno Innovations (Private) Limited and Marketed & Distributed by Inventive Automobiles (Private) Limited. The Six Plastic components of the Scooter such as, Front Mud Guard, Rear Mud Guard, Rear Mud Flap, Two Side Covers and Seat Base are manufactured at the Company’s very own plastic injection moulding factory.

“In this process, we make adjustments to the designs to ensure that the product is improved to a high quality and durable finished product. Other components such as Handlebar, Side Stand, Main Stand, all Seat Brackets and Hinge, Mud Flap Bracket and Grab handle are produced by reputed Sri Lankan suppliers,” the release said.

For the first time in Sri Lanka, the complete Scooter Seat (seat base, hinge, brackets, seat cushion, rubber bumpers, beading and seat cover) is manufactured locally; these components are assembled to produce the perfect DYNO Scooter by skilled technicians, in the assembly facility at Makumbura, Pannipitiya. The vehicle is offered with two comprehensive Free Services as well as a Two-Year or 30,000km warranty.

The Company has plans to introduce many other Scooter models inclusive of electric scooters which are attractively designed with high performance and functionality which we hope to introduce to the market shortly. Carron went on to say that as a Sri Lankan company, their aim is to manufacture more than 60% of the vehicle locally. The opportunity to enter the market with a local value addition model is the first step to achieve their goal.

This 27th of September, The World Tourism Organisation (UNWTO) will host World Tourism Day in Bali Indonesia under the theme ‘Rethinking Tourism’. The event is aimed at highlighting the importance of tourism as a crucial pillar of national economic development and rethinking the way in which it is delivered. The UNTWO concept note focuses on putting the world’s people and the planet first by bringing government, businesses, and local communities together around a shared vision of sustainability, inclusiveness, and resilience.Fox Resorts has always been a company with a purpose: caring deeply about guests, employees, suppliers, the environment, and the local communities in the areas surrounding our properties. Our underlying ethos is a belief in the sustainable well-being of people, society, and our planet.

In keeping with the theme of World Tourism Day and our ongoing commitment to the communities we serve, Fox Resorts looks to ensure that all regular purchases are sourced from local sellers, growers, and SMEs in the vicinity of our properties, carefully redesigning our menus to feature ever more locally grown produce and ingredients for our dishes. Throughout Fox Resorts’ properties, we have also incorporated local design elements and craft techniques to help showcase local craftsmanship.

At both of our properties, we have undertaken a commitment to minimize the use of single-use plastics: a key initiative to help achieve this is offering guests glass water bottles instead of plastic ones in each guest room. Each bottle is sanitized after each use and filled with sterilized and filtered drinking water. We strive to make sure that we minimize single-use plastics throughout our property: plastic waste that does get used is sent for recycling at local recycling plants.

“Water is one of the earth’s most valuable natural resources. To help preserve this and strive to limit wastage, we have introduced low-flow taps and showers for smart water consumption. Wastewater is collected into tanks and treated accordingly to be used to water the gardens. Signage has been placed in every room, encouraging guests to reuse linen and help reduce water consumption and pollution that stems from the use of detergents” says Christopher Berenger, General Manager of Fox Kandy.

Along with the careful use of water, Fox Resorts ensures intelligent comsumptionof energy is minimized. The property is fitted with solar panels for hot water, energy-saving bulbs are installed throughout the hotel, and guest rooms are fitted with key card master switches to ensure that power goes off once guests have left their rooms.

According to the Food and Agriculture Organisation (FAO) of the United Nations, Sri Lanka as a nation produces approximately 4,000 tonnes of food waste per day. “To mitigate this wastage, Fox Resorts employs careful planning in its sourcing and operations: garbage is segregated accordingly and disposed of responsibly. Any remaining food waste is sent to local farms for animal feed, rather than getting dumped in landfills” explains Shane Vonhagt, General Manager of Fox Jaffna.

“Fox Resorts is acutely aware that the commitment to sustainability is an ongoing one, requiring continuous improvement in processes and service delivery. As our hotels expand their operations, we pledge to also expand our implementation of solar energy systems, invest in installing rainwater-harvesting tanks, drastically reduce reliance on single-use plastics, and implement charitable initiatives supporting different local underprivileged groups and the environment by sponsoring frequent neighborhood clean ups with the provision of garbage bins, regular beach clean ups, annual sterilization campaigns for street dogs and cats, and regular Children’s Art Exhibitions, and long term support to orphanages”, says Chris Quyn, CEO of Fox Resorts, reinforcing the chain’s commitment to sustainability. “Our commitment to supporting the communities in which we operate is one of the most critical ways in which Fox Resorts strives to increase engagement and drive a better, stronger, and more sustainable future for our company and the world at large”.

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