Sri Lanka’s total exports reached $ 9,992.53 million in the first seven months of the year, marking a robust 7.79% growth compared to the corresponding period in 2024, Sri Lanka Export Development Board (EDB) data revealed.
In July alone, total exports, comprising both merchandise and services reached $ 1,641.11 million, a 12.68% year-on-year (y-o-y) growth over July 2024.
EDB Chairperson and Chief Executive Officer Mangala Wijesinghe said: “This encouraging growth highlights Sri Lanka’s increasing integration into global trade and the success of our continued efforts to strengthen export competitiveness while diversifying market opportunities. Our exporters have once again proven their resilience and adaptability in navigating dynamic global markets.”
“It is encouraging to see exports surpassing $ 1.6 billion in July and reaching nearly $ 10 billion in the first seven months. This reflects the resilience of our exporters amidst global challenges. While we celebrate this progress, we remain cautious of uncertainties ahead. With continued efforts to enhance competitiveness and diversify markets, we are confident of achieving the 2025 export target.”
In July, merchandise exports grew by 15.37% y-o-y, reaching $ 1,304 million, according to provisional data of Sri Lanka Customs including the estimates for gems and jewellery and petroleum products.
For the January-July period, merchandise exports totalled $ 7,799.82 million, reflecting a 7.22% increase compared to the same period in 2024.
Meanwhile, services exports have emerged as a key driver of overall export growth. In July, earnings from services exports were estimated to be $ 337.11 million.
Over the first seven months of the year, services exports are estimated to have increased by 9.86%, totaling $ 2,192.71 million.
The services export sector, comprising ICT/BPM, construction, financial services, and transport and logistics, continues to diversify Sri Lanka’s export portfolio and create high-value employment opportunities across the Island.
Products and services with positive growth in export earnings included tea, which made up 12.8% of merchandise exports, and increased by 13.09% y-o-y to $ 141.02 million in July compared to July 2024.
This increase was mainly due to the strong performance in the export of tea packets (18.34%), bulk tea (4.7%) and instant tea (77.1%).
The volume of tea exports increased by 12.56% in July compared to the same month in 2024. Notably, tea exports to Iraq and Libya recorded significant increases of 25.84%, 126.13% respectively, while tea exports to Iran decreased by 17.52% in July compared to the same month in 2024.
A monthly analysis reveals that export earnings from coconut-based products showed a significant increase of 63.85% in July compared to the same month in 2024.
Notably, earnings from coconut kernel products increased by 95.46%, coconut fibre products by 25.36% and coconut shell products by 37.33%, reflecting strong global demand and improved value addition across the sector.
Products with negative growth or decreases in export earnings included spices and essential oils, which decreased by 39.85% to $ 36.81 million in July compared to July 2024.
This significant drop was primarily driven by a sharp decrease in pepper exports, which decreased by 81.18%. Additionally, cinnamon exports also recorded a year-on-year decrease of 2.53% in July.
Furthermore, export earnings from electrical and electronics components decreased slightly by 0.57% y-o-y to $ 38.22 million in July.