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Thursday, 23 August 2018 08:07

Fish exports to Europe increase by 125 percent

Published in World - Business

The latest reports regarding Sri Lanka's fish exports reveal that the exports in 2017 to EU countries had increased by 125 percent last year.Compared to 2016, fish exports to EU countries in 2017 indicate an increase of 41.8 percent and the foreign exchange had enhanced by 48.5 percent, according to the statistics of the Fisheries and Aquatic Resource Development Ministry and the Central Bank.

Such a rapid increase was achieved after the ban on fish exports imposed on Sri Lanka by the EU was lifted in 2016. Statistics further showed that between July 2016 to March 2018, a total of 28,578.09 metric tons of fish had been exported to EU countries and the foreign exchange earned was Rs. 92,117 million.

In 2014, the export of fish was limited to 26,320 MT and this went down to 26,129 MT during the ban on fish exports with effect from January 2015 to June 2016 - nearly 18 months. The foreign exchange earned was confined to Rs. 2,103 million.

This year, within a three-month period, fish exports amounted to 7,174.8 MT, enabling the government to earn an income of Rs. 11,804.4 million as foreign exchange.