However, the merchandise shipments in the first two months were down 0.30% to $ 1.9 billion YoY, statistics from the Export Development Board (EDB) revealed.

In February, agricultural exports saw an increase by 11.82% YoY to $ 255.76 million, while industrial exports experienced a decline by 3.36% YoY to $ 727.94 million.

Export revenues from tea, constituting 12% of merchandise exports, surged by 22.16% year-on-year to $ 127.74 million in February 2024 compared to February 2023. This rise was primarily driven by robust performances in the export of bulk tea and tea packets