Sri Lanka has lost 36.5 per cent of its sea foods export revenue since last January due to the European Union ban of fishery product exports from the island, state the latest data released by the Central Bank of Sri Lanka.

This downward trend is when compared to March last year and the main reason is the huge drop of 77.6 per cent in revenue in sea food product exports to the European market during March 2015.

The main sea food market for Sri Lanka is the European Union.

Sri Lanka’s sea foods export earnings have been hit badly due to the ban imposed by the European Union on the island’s fish products exports.

The European Union recently suspended the purchase of fish products from Sri Lanka on allegations that the island’s fishing vessels violate maritime boundaries and this ban is still in force.

Several fish product exporters said that they risk their business being closed down due to this ban.