“Recording the highest value for the year, earnings from textiles and garment exports continued to increase significantly in December 2017 with increased exports to the European Union (EU) following the restoration of the GSP+ facility in May 2017.”

Earnings from garment exports to the EU increased by 27.2% (year-on-year), while garment exports to the US and other non-traditional markets increased by 18% and 14.1%, respectively, during December 2017.

Further, due to the combined effect of higher volumes and prices of bunker and aviation fuel, exports earnings of petroleum products increased significantly in December 2017.

Earnings from rubber products increased during the month mainly due to the export of tyres. In addition, export earnings from food, beverages and tobacco increased considerably in December 2017 owing to higher earnings from exports of vegetable, fruit and nuts preparations.