Sri Lanka earned $900 million through rubber exports in 2022

Collecting cups of latex - rubber

(Photo credit: Oliver Strewe)

Sri Lanka has made 327 billion rupees ($900 million) in 2022 by exporting rubber products, the Rubber Development Department said.

Director General of the department Madawa Kulasuriya told the media on Saturday that this was a slight drop from 2021 revenue, which was $1 billion, Xinhua news agency reported.

However, the South Asian country intends to increase revenue from rubber products to $3 billion by 2025, he said.

Major markets for finished rubber products are the US, Germany and Japan, while Pakistan, Germany and Japan are major markets for natural rubber from Sri Lanka, he added.

Sri Lanka is one of leading natural rubber exporters in the world, and in 2021 around 70 per cent of income from rubber exports came as tyres, according to official data.