Sri Lanka's exports earnings declined 2.6 per cent, year-on-year, in July 2015. Exports of all sub categories of the industrial sector, except transport equipment, petroleum products and animal fodder, declined in July 2015, owing to the weak global demand.

Earnings from textiles and garments, which account for more than 44 per cent of the country’s total export earnings declined marginally by 0.3 per cent in July 2015 compared to last year. There was a decline in garment exports but textile exports grew 34 per cent over July 2014.

On a cumulative basis, earnings from exports declined marginally by 0.9 per cent during the first seven months of the year mainly due to the lower performance of agricultural exports despite the positive growth in industrial exports. The import bill also declined by 16.9 per cent, year-on-year, in July 2015.