Digging Art

The Sooriya Village Reopens as Cultural Hub in Colombo

The iconic Sooriya Village in Colombo has reopened its doors. It aims to preserve and promote Sri Lankan culture and heritage. This cultural hub stems from the legendary “Sooriya” label, which pioneered popular music production decades ago.

The Sooriya Village’s reopening will boost Colombo tourism. Visitors can enjoy an immersive experience of Sri Lankan arts and crafts. The village will host live performances, workshops, and exhibitions showcasing Sri Lanka’s rich cultural tapestry.

'The Sooriya Village' Reopens as Cultural Hub in Colombo

The village’s revival comes at a crucial time for preserving traditional arts. It provides a platform for local artisans to showcase their skills. This contributes to the sustainability of age-old practices for future generations.

Key Takeaways

The Sooriya Village reopens as a premier cultural hub in Colombo, Sri Lanka
The village aims to preserve and promote traditional Sri Lankan arts and crafts
Live performances, workshops, and exhibitions will showcase the rich heritage of Sri Lanka
The reopening will boost Colombo tourism by offering immersive cultural experiences
The Sooriya Village provides a platform for local artisans and communities to sustain their practices

Reviving Sri Lankan Arts and Culture at The Sooriya Village

The Sooriya Village works to revive and preserve Sri Lanka’s traditional arts and crafts. It showcases local artisans’ skills and keeps age-old traditions alive. With 25,000 traditional medical practitioners in Sri Lanka, supporting their knowledge is crucial.

Preserving Traditional Arts and Crafts

Sri Lanka’s traditional arts and sciences are sustainable models, unlike modern Western practices. These knowledge systems are at risk due to urbanization and disconnect from nature.

The Sooriya Village recognizes the importance of preserving these ancient practices. It is committed to safeguarding them for future generations.

Empowering Local Artisans and Communities

The Sooriya Village empowers local artisans and communities, fostering economic growth and social well-being. It bridges the gap between urban and rural areas through community development initiatives.

The village ensures traditional skills are passed down to younger generations. By supporting artisans, it preserves cultural heritage and creates sustainable livelihoods.

Promoting Sustainable Cultural Tourism

The Sooriya Village promotes sustainable cultural tourism, offering authentic experiences to visitors. It showcases traditional arts and crafts, allowing tourists to immerse themselves in Sri Lanka’s heritage.

This approach benefits the local economy and raises awareness. It highlights the importance of preserving ancient traditions for future generations.

Immersive Experiences at the Renovated Sooriya Village

The renovated Sooriya Village offers a unique dive into Sri Lanka’s cultural heritage. Visitors can join interactive workshops, watch demos, and enjoy performances. This hub showcases local artisans and performers, bringing Sri Lanka’s traditions to life.

Interactive Workshops and Demonstrations

At Sooriya Village, guests can try their hand at traditional crafts. Skilled artisans lead workshops in weaving, pottery, and batik-making. These hands-on sessions connect visitors with Sri Lanka’s cultural roots.

Participants gain respect for local craftspeople’s expertise. These workshops help preserve and promote Sri Lanka’s cultural heritage. They offer both learning and fun for all ages.

Cultural Performances and Exhibitions

The village hosts captivating music, dance, and theater shows. These performances highlight Sri Lanka’s diverse artistic expressions. Visitors get a taste of the island’s rich cultural tapestry.

Local artists’ exhibitions showcase contemporary Sri Lankan art. These displays reveal links between modern work and traditional roots. They add depth to the immersive experience at Sooriya Village.

Central Bank Raises Interest Rates Against Inflation

In a bold move to protect Economic Stability, the Central Bank of Sri Lanka has raised Interest Rates. This aims to tackle the high inflation. Historically, taking such firm actions helps stabilize finances. This mirrors strategies used globally during times of high inflation.

Central Bank Raises Interest Rates to Combat Soaring Inflation

The Central Bank increased rates by 4.5 percentage points by July 2022. This was in response to a high inflation rate of 10.6% in October. It also raised the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate. This helps control excess money and inflation in the economy.

Inflation dropped to 5.2% by September 2023. This positive trend offers hope for reaching a 2% inflation target. A recent interest rate cut by 0.25 percentage points makes loans more accessible. It supports both individuals and businesses financially.

OMP Sri Lanka tracks critical central banking actions. This includes reports on reduced private sector credit and tighter credit to state-owned businesses. The Bank’s actions show a commitment to monitoring inflation. They aim for economic recovery, aligning with the International Monetary Fund’s guidelines, as seen on their website.

Understanding the Central Bank’s Role in Economic Stability

The Central Bank’s Role is crucial in making sure the economy stays stable. It uses Monetary Policy to keep inflation in check. This helps maintain Price Stability and supports Sustainable Growth. The main aim is to smooth out economic ups and downs. This creates a good setting for investment and building wealth.

Central Bank's Role in Economic Stability

Using Monetary Policy is key in this effort. Central banks adjust interest rates and control the supply of money. This helps manage inflation and economic activities. By doing this, they keep prices steady, avoiding the trouble caused by inflation or deflation.

The Mandate of the Central Bank in Managing Monetary Policy

The central bank has a big job of keeping the country’s money stable. This is true in many places, like in Sri Lanka. It changes policy rates to influence the economy. The goal is to balance growth and inflation well, avoiding extremes.

Historical Instances of the Central Bank Controlling Inflation

Central banks have stopped hyperinflation before. For example, Germany in the 1920s and Zimbabwe in the 2000s. They used Monetary Policy to lower inflation to safer levels. This shows how central banks play a big role in Economic Stability.

Price Stability and Its Importance for Sustainable Growth

Stable prices are the foundation of Sustainable Growth. They let businesses plan and people make smart choices. Knowing what to expect with inflation helps. It makes investing appealing and helps with economic planning.

Looking at recent times in Sri Lanka, inflation dropped from 70% to a stable rate. This was thanks to careful monetary policy. It’s a great example of how central banks help keep the economy stable.

In summary, the central bank’s role in shaping policies for stability and growth cannot be underestimated. Their influence stretches across the economic scene. Knowing and supporting their strategies is vital for a successful economy.

Implications of Rising Interest Rates on the Economy

Various central banks around the world have raised interest rates. They aim to fight the high inflation that adds pressure on economies and budgets. These changes deeply affect economic growth. They change how businesses and customers behave with borrowing, spending, and investment.

Effects on Borrowing, Spending, and Investment Decisions

It’s important to see how rising interest rates change the economy. For instance, when rates go up, borrowing costs do too. This fact makes people and businesses think twice before getting loans for big buys or expansions. As a result, there’s less spending by buyers and fewer investments by companies, which slows down economic growth.

The Relationship Between Interest Rate Hikes and Asset Prices

When interest rates go up, the value of assets like houses and stocks often drops. This happens because safer investments, like government bonds, look better in comparison. They offer higher returns without as much risk. So, investors move their money, and this can make the market less liquid and more volatile.

Financial News: Navigating the Economic Impact of Monetary Tightening

The monetary tightening efforts of central banks are meant to lower inflation and stabilize the economy. But, it takes time to see the results of these policies. This means investors need to be careful and watch for any policy changes or market reactions. Central banks play a crucial role in this effort. They focus on the big financial goals of countries looking to recover economically and advance educationally, as shown in this example.

From Monetary Theory to Practical Measures

The world of global economics changes all the time, with Central Bank Policy at its heart. These banks use advanced Monetary Theory to shape the economy. They aim to manage issues like inflation, especially after the pandemic.

Before the pandemic, interest rates were very low, even negative in some cases. Central Bank balance sheets grew hugely to boost economies. This was a response to the big economic downturn known as the Great Financial Crisis (GFC). Buying lots of assets was a new key strategy.

After the pandemic, central banks started to tighten their policies quickly. They raised policy rates and reduced money supply, facing severe inflation. For many places, inflation rates went into the double digits. This prompted these strong actions from the central banks.

Even though big economies faced tough times, Emerging Market Economies (EMEs) avoided major crises. Still, they had to deal with unpredictable money flows and currency values. This was because of the immense monetary easing in major economies after the GFC.

In Sri Lanka, these global trends have their own effects, creating unique challenges. The country’s education system suffered, with a big shortage of paper leading to canceled student. This shows how wide-ranging the impact of poor inflation control can be.

In 2011, East African countries experienced similar economic issues. They saw high inflation rates that often matched global commodity price changes. This shows how important it is for central banks to manage inflation carefully. It’s vital for economic growth and stability in places like Sri Lanka.

Kandy Esala Perahera Festival Returns in Full Splendor After Pandemic Restrictions Lifted

Kandy, a historic city in Sri Lanka, buzzed with excitement during the Esala Perahera festival. The event showcased vibrant colors, mesmerizing dances, and deep-rooted traditions. After a year of restrictions, the festival returned, captivating local and global audiences.

Organizers adapted to new norms, ensuring a safe and memorable celebration. The event ran from August 13th to 23rd, 2021. It followed strict health guidelines while highlighting rich Sri Lankan culture.

Kandy Esala Perahera Festival Returns in Full Splendor

The festival was live-streamed in seven languages to promote Sri Lanka. These included English, Sinhala, Tamil, Thai, Chinese, Cambodian, and Japanese. This collaboration between tourism bodies attracted nearly 16,000 international viewers.

The Kandy Esala Perahera festival proves Sri Lankan resilience and adaptability. Organizers used technology to connect the physical and virtual worlds. This allowed people worldwide to experience the magic of this centuries-old tradition.

A Triumphant Comeback: Kandy Esala Perahera Festival Shines Brightly

Sri Lanka’s iconic Buddhist festival, the Kandy Esala Perahera, has returned after pandemic restrictions. Vibrant costumes, fire dances, and whip crackers once again grace Kandy’s streets. Locals and tourists are captivated by the mesmerizing spectacle.

Overcoming Pandemic Challenges

Festival organizers faced numerous hurdles due to the global pandemic. Their determination and careful planning brought back the event in full splendor. This successful comeback showcases the resilience of the Sri Lankan people.

Adapting to New Norms for a Safe Celebration

Safety measures have been implemented to protect participants and spectators. Social distancing and mandatory masks are now part of the event. These adjustments ensure a safe celebration without compromising the festival’s essence.

The Kandy Esala Perahera’s return brings hope and celebrates Sri Lanka’s cultural heritage. Ancient traditions blend with modern precautions, ensuring the festival’s continued success. This beloved event will undoubtedly thrive for generations to come.

The Essence of Kandy Esala Perahera: A Blend of Tradition and Spectacle

The Kandy Esala Perahera is a grand celebration in Sri Lanka. This 10-day festival showcases the country’s rich cultural heritage. Visitors flock to witness the stunning processions during the “Esala” month.

The event holds great historical significance for Sri Lankans. It blends Buddhist traditions with local folklore, creating a unique spectacle.

The Historical Significance of the Festival

The Kandy Esala Perahera dates back to the 4th century. It honors Lord Buddha’s sacred tooth relic, housed in Kandy’s Temple of the Tooth.

The festival also pays tribute to four guardian deities. These include Natha, Vishnu, Kataragama, and Goddess Pattini. This showcases the region’s diverse religious beliefs.

Key Elements of the Perahera Procession

Grand processions are the heart of the Kandy Esala Perahera. They feature traditional Kandyan dancers, fire performers, and skilled drummers.

The elephant pageant is a major highlight. Beautifully adorned elephants parade through the streets in colorful costumes.

A majestic tusker carries a replica of the sacred tooth relic casket. The processions create an atmosphere of joy and cultural pride.

The Role of the Sacred Tooth Relic

The sacred tooth relic is central to the Kandy Esala Perahera. It’s believed to have arrived in Sri Lanka in the 4th century.

The relic symbolizes sovereignty and is a source of blessings. The festival ends with a water-cutting ceremony at the Mahaweli River.

During this ritual, the sacred tooth relic is venerated. Blessings are invoked for the nation’s well-being and its people.

Kandy Esala Perahera Festival Returns in Full Splendor

Kandy’s ancient city bursts with life as the Esala Perahera festival returns. This ten-day event showcases Sri Lanka’s rich cultural heritage. Held annually in July-August, it features traditional dances, music, and a grand elephant parade.

Over 100 adorned elephants march in the festival’s spectacular procession. Hundreds of Kandyan dancers and drummers in traditional attire join them. The Esala Perahera includes five separate parades, each honoring different deities.

Vibrant Displays of Cultural Heritage

The Kandy Esala Perahera festival boasts a 1,600-year history. It’s a living testament to Sri Lanka’s enduring cultural traditions. The festival ends with a procession led by the Maligawa Tusker.

This special elephant carries a replica of the Sacred Tooth Relic. The relic is usually housed in Kandy’s Temple of the Tooth.

Mesmerizing Performances by Dancers and Musicians

Kandy’s streets pulse with the rhythmic beats of skilled drummers. Graceful Kandyan dancers, fire dancers, and whip dancers captivate onlookers. These performers wear elegant costumes that showcase Sri Lanka’s rich artistic heritage.

The Majestic Elephant Procession

A highlight is the merging of four devale peraheras. Each devale is dedicated to a specific deity. Dozens of adorned elephants create a majestic procession that amazes visitors.

This grand display draws people from around the world. They come to experience the essence of Sri Lankan culture and tradition.

Conclusion

The Kandy Esala Perahera festival has made a triumphant return in 2023. This centuries-old tradition dates back to the 3rd century BC. The event showcases Sri Lanka’s rich cultural heritage and religious significance in the sacred city of Kandy.

The festival’s core is the veneration of Buddha’s Sacred Tooth Relic. This relic has been central to the celebration since 310 A.D. The pageant features thousands of dancers, drummers, musicians, and majestic elephants.

The final night is the festival’s peak. It involves about 5,000 performers and 100 elephants. The event ends with the sacred Diya-kepeema ritual at the Mahaweli River in Getambe, Kandy.

The Kandy Esala Perahera’s revival shows Sri Lankan culture’s resilience. It brings joy and unity to the people of Sri Lanka. The event also proves the country’s dedication to preserving its heritage for future generations.

Sri Lanka faces challenges with changing agricultural policies and their economic impact. Yet, the Kandy Esala Perahera remains a symbol of hope and pride for all Sri Lankans.

Elephants Rampage at Festival: 13 Injured in Stampede

At a Hindu festival in Kataragama, Sri Lanka, joy turned to chaos. An elephant, startled during the festivities, ran through the crowd. This caused other elephants to join in, leading to a dangerous situation.

In Sri Lanka, 13 people were hurt and needed hospital care. Thankfully, they have all recovered. Elephants are a big part of religious events in Sri Lanka. But this incident raises concerns about their role and the safety of people.

elephants go on rampage & stampede injuring 13 at religious festival

Key Takeaways

An elephant stampede at the Kataragama festival led to injuries and safety worries.
This event shows the dangers of elephants in crowded places.
The injured people have all been looked after and are now out of the hospital.
It’s time to think about how we include animals in our traditions, considering both ethics and safety.
People organizing festivals, those who care about animals, and officials must work together. This will help avoid accidents in the future.

Chaos and Fear: How the Celebration Turned Catastrophic

The peaceful Ruhunu Kataragama Perahera festival in Sri Lanka suddenly changed. An elephant in the procession got aggressive. This led to 13 people getting hurt in Kataragama, about 175 miles from Colombo. Emergency teams came fast to help, and many injured were taken to hospitals.

Looking closely at these events shows how hard it is to manage big animals at festivals. Incidents not just in Sri Lanka but around the world call for better animal control. Even the best plans can fail when an elephant suddenly acts out, as seen in Colombo and Kandy.

The issues raise big worries about the safety of animals and people at these festivals. It’s essential to have good emergency plans ready. After this event, there’s been a lot of talk about changing how we handle animals at such events to keep everyone safe.

It’s tricky when tradition and safety intersect. We need smart, kind ways to manage animals and crowds. By learning from incidents around the world, we can handle high-risk situations better. This keeps our traditions alive safely.

Elephants Go on Rampage & Stampede Injuring 13 at Religious Festival

A sacred festival in Sri Lanka turned chaotic, injuring 13 people. This happened at the Ruhunu Kataragama Perahera, around 8:30 pm. Elephants and people panicked, showing we need better safety and animal care measures at these events.

Initial Panic: The Beginning of the Rampede

The trouble began 175 miles south of Colombo, in Kataragama. An elephant strayed, causing panic among people and other elephants. This led to a dangerous stampede. It shows the importance of strict crowd control and public safety at big gatherings.

Emergency Response: Controlling the Mayhem

Emergency teams quickly came to help those hurt and control the chaos. They worked hard to calm the elephants and help the injured. This highlighted the need for careful planning when animals are part of cultural events.

Aftermath: Injuries Treated and Discharged

Those hurt were rushed to Kataragama hospital for treatment. Thankfully, they all left the hospital okay. This raises talks about safety and managing events with animals, especially with the Sri Lankan elephant’s endangered status.

Sri Lanka’s Export Performance Declines by 3.49% in Sept 2024

In a shift due to economic recession and global market shrinkage, Sri Lanka’s exports fell in September 2024. Export earnings dropped to US$937.95 million. This was a 3.49% decline from the year before. This dip fits into a larger story of September 2024 economic news. During this time, trade activities hit significant challenges.

Even though merchandise exports fell, Sri Lanka’s service sectors saw growth. They increased by 6.08% to US$329.89 million. This growth shows the economy’s resilience and adaptability. Yet, this did not make up for the overall downturn, where total exports dropped by 1.17% to US$1.27 billion.

However, some areas showed positive trends. The period from January to September 2024 highlights adjustment and opportunity in Sri Lanka's Export Performance Declines by 3.49% in September 2024 . This includes stronger performance in apparel and coconut products. The ICT and logistics sectors also made noteworthy progress. This offers hope for economic recovery.

A detailed look by the World Bank’s growth forecast for Sri Lanka delves into the economic scene. It talks about future policies and strategic efforts. These aim to boost and improve Sri Lanka’s export capacity.

An Overview of Sri Lanka’s Export Slump in September 2024

In September 2024, Sri Lanka faced a major decline in exports, showing tough economic challenges. A few areas saw a little improvement. But, mostly, the data showed a significant economic decline in Sri Lanka.

The exports in key merchandise areas went down a lot, showing major September 2024 trade challenges. Yet, the services sector did a bit better, offering hope in tough economic times.

Factors Leading to the 3.49% Decrease in Merchandise Exports

Sri Lanka’s merchandise exports dropped by 3.49%, reaching US$ 937.95 million. This drop was due to less global demand and issues within. Industries like tea, rubber products, and electronics struggled.

Tea exports, which are very important for the country, fell by 10.26%. This decrease added to the economic decline in Sri Lanka.

Contrasting Expansion in Services Exports by 6.08%

On the other hand, service exports grew by 6.08%, totaling about US$ 329.89 million. This increase shows the strength of the information technology and tourism sectors. They used digital tools and global partnerships to face September 2024 trade challenges well.

Total Exports Including Services Fall to $1.27 Billion

Even with the rise in service exports, the total of goods and services exports dropped to $1.27 billion. This was a 1.17% decrease from the year before. It shows the ongoing challenges in trade. It also points out the need for decline in Sri Lanka’s export earnings and the importance of trying new strategies in the economy.

For more information on efforts to improve the economy and stabilize finances, click here. This link will take you to a detailed analysis on how Sri Lanka is dealing with these fiscal challenges.

Sector-Specific Dynamics of Sri Lanka’s Exports in September 2024

The different sectors of Sri Lanka export sectors show a mix of challenges and opportunities. Some parts have stayed strong, despite tough global conditions.

Dip in Key Sectors: Tea, Rubber Products, Electronics, and Seafood

September noticed a big drop in both tea and rubber exports. Tea earnings went down by 2.44% to $117.03 million. This affected the country’s main export goods.

Rubber exports also fell by 4.1%, reaching $79.5 million. These important sectors struggled due to lower global demand and high competition.

Apparel and Textile Sector Resilience Amidst the Decline

However, the apparel and textile sectors did well, growing by 15.71% to $418.68 million. This growth, especially the 36.87% increase in shipments to the United States, shows their strong performance.

The Steady Climb of Coconut-Based Product Exports

The growth in coconut products was also promising. Their exports went up by 10.36%, with big gains in coconut oil and other products. This shows how important diversification is for Sri Lanka export sectors.

This bigger picture shows how Sri Lanka is dealing with economic challenges. For more, see OMB Sri Lanka’s financial strategies in the face of high external debt. It’s about aiming for sustainable growth.

Product Category	September 2023 Exports (USD Million)	September 2024 Exports (USD Million)	% Change
Tea	119.88	117.03	-2.44%
Rubber Products	82.81	79.5	-4.1%
Apparel and Textiles	361.79	418.68	+15.71%
Coconut Products	Value TBD	Increased	+10.36%

This table shows the mixed performance in Sri Lanka’s export sectors. It highlights how adaptable sectors like apparel and coconut are helping stabilize and grow the economy.

Highlights from Resilient Sectors Defying the Downward Trend

Despite a 3.49% decline in exports, some areas of Sri Lanka’s economy tell a story of export resilience in Sri Lanka. The ICT sector shines brightly, showing a significant growth in the ICT sector, up by 28.66% in September 2024. It shows the strong foundation tech companies are setting in the economy.

The food and beverage sector also showed strength. It grew by 8.78%, with processed food exports jumping by a huge 69.41%. This growth is crucial, as it brings in foreign money and supports local farms and factories.

The logistics and transport area also stood out, growing by 24.94%. It shows how Sri Lanka’s strategic spot and efficient port management are playing a key role. This highlights the solid potential tying Export resilience in Sri Lanka together.

An in-depth look shows that rising sectors like ICT can help recover what was lost in others. It’s important to focus on these growing areas in Sri Lanka’s future economic plans.

Sector	Percentage Growth
ICT	28.66%
Food and Beverages	8.78%
Processed Food	69.41%
Logistics and Transport	24.94%

Even though there’s a downturn in exports, sectors like ICT and food and beverages are doing well. These success stories suggest where policy makers and business leaders should focus. They should aim to boost growth in the ICT sector and improve the performance of food and beverages exports.

Examining the Impact on Sri Lanka’s Trade Dynamics

In September 2024, Sri Lanka’s exports showed interesting trends that tell us a lot about its trade. The United States significantly increased its purchases, with a 21.57% jump, reaching US$ 245.69 million for the month. The growth continued from January to September, rising by 5.33% to US$ 2.19 billion. These numbers highlight strong points in Sri Lanka’s trade, showing resilience in some sectors despite challenges.

The United Kingdom and other major markets also saw growth, improving Sri Lanka’s trade situation. In September, UK exports rose by 3.69%, amounting to US$ 77.75 million. And in the first nine months, there was a 7.06% increase, reaching US$ 691.31 million. This upward trend wasn’t just in the UK but also in other key markets like Germany, the Netherlands, Canada, and China, showing progress.

The Central Bank of Sri Lanka has taken important actions to help the economy. It lowered policy interest rates and reduced required bank reserves. These steps aim to boost economic growth by making more money available for businesses and encouraging spending. Experts believe that along with these actions, Sri Lanka needs to make more changes to strengthen its economy and expand its exports.

Examining the Impact on Sri Lanka’s Trade Dynamics

What were the main factors that led to the 3.49% decrease in merchandise exports?

The decline was mainly due to less global demand. Key sectors like tea, rubber, electronics, and seafood earned less.

How did services exports perform in contrast to merchandise exports?

Despite merchandise exports dropping, services exports grew by 6.08% in September 2024.

What was the total value of exports, including both merchandise and services, for September 2024?

The total exports fell to

Examining the Impact on Sri Lanka’s Trade Dynamics

What were the main factors that led to the 3.49% decrease in merchandise exports?

The decline was mainly due to less global demand. Key sectors like tea, rubber, electronics, and seafood earned less.

How did services exports perform in contrast to merchandise exports?

Despite merchandise exports dropping, services exports grew by 6.08% in September 2024.

What was the total value of exports, including both merchandise and services, for September 2024?

The total exports fell to $1.27 billion. This was a 1.17% drop from the previous year.

Which key sectors experienced a significant slump in export earnings?

Exports in tea, rubber, electronics, and seafood sectors went down notably.

How did the apparel and textile sector fare in September 2024?

The apparel and textile sector grew by 15.71%. This was mainly due to high demand from the U.S.

What was the performance of coconut-based product exports?

Coconut product exports grew by 10.36%. This growth came from coconut oil, desiccated coconut, and liquid coconut milk exports.

Which sectors in Sri Lanka showed significant growth despite the broader economic downturn?

The ICT sector and logistics and transport services saw big growth. The food and beverages sector, especially processed food exports, jumped by 69.41%.

Has the export decline affected Sri Lanka’s trade with major markets?

Despite the overall decline, exports to the United States and the United Kingdom grew. This shows some strong trade connections.

.27 billion. This was a 1.17% drop from the previous year.

Which key sectors experienced a significant slump in export earnings?

Exports in tea, rubber, electronics, and seafood sectors went down notably.

How did the apparel and textile sector fare in September 2024?

The apparel and textile sector grew by 15.71%. This was mainly due to high demand from the U.S.

What was the performance of coconut-based product exports?

Coconut product exports grew by 10.36%. This growth came from coconut oil, desiccated coconut, and liquid coconut milk exports.

Which sectors in Sri Lanka showed significant growth despite the broader economic downturn?

The ICT sector and logistics and transport services saw big growth. The food and beverages sector, especially processed food exports, jumped by 69.41%.

Has the export decline affected Sri Lanka’s trade with major markets?

Despite the overall decline, exports to the United States and the United Kingdom grew. This shows some strong trade connections.