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Merchandise Exports Dip 0.77-pct in January 2024, Reaching USD970.7 Mn

The merchandise export performance in January 2024 amounted to US$ 970.7 million, recorded a 0.77 % decline compared to January 2023.

Compared to January 2023, agricultural exports shown a modest increase of 3.58%, reaching US$ 225.43 million in January 2024. However, industrial exports experienced a decline of 2.08% during the same period, dropping to US$ 744.77 million.

Table 1: Comparison of Product-wise Merchandise Export Performance 

                           Values in US$ Mns

Exports of Goods January  2023 January  2024 % Growth (23-24)
Apparel & Textile 423.13 380.10 -10.17
Tea 99.56 102.18 2.63
Rubber-based 75.89 81.72 7.68
Coconut-based 48.22 56.29 16.74
Diamond, Gems & Jewelery 46.51 32.98 -29.09
Electronics & Electronic   Components 38.27 31.24 -18.37
Spices and Concentrates 34.48 29.33 -14.94
Processed Food & Beverages 32.39 33.87 4.57
Seafood 20.94 23.02 9.93
Ornamental Fish 2.20 2.21 0.45
Vegetables 2.49 2.00 -19.68
Fruits 3.23 3.44 6.50
Other Export Crops 2.14 4.11 92.06
Flowers & Foliage 1.16 1.17 0.86
Boat Building 0.07 0.06 -14.29
Petroleum Products 77.84 21.45 -72.44
Others 69.68 165.53 137.56
Total Merchandize Exports 978.20 970.70 -0.77

Sources: CBSL, SL Customs

Table 2: Comparison of Merchandise Export Performance of Top 15 Export Destinations 

Values in US$ Mns


Destination January  2023 January  2024 % Growth (23-24)
1 United States 254.78 220.48 -13.46
2 United Kingdom 77.42 67.52 -12.79
3 India 69.58 56.93 -18.18
4 Italy 46.21 49.57 7.27
5 Germany 48.12 49.34 2.54
6 United Arab Emirates 71.35 29.84 -58.18
7 Netherlands 26.55 26.02 -2.00
8 France 17.89 17.16 -4.08
9 Canada 19.57 30.45 55.60
10 China 19.35 18.41 -4.86
11 Australia 17.81 19.75 10.89
12 Belgium 19.57 15.72 -19.67
13 Turkey 16.02 11.46 -28.46
14 Japan 15.37 12.91 -16.01
15 Switzerland 15.14 13.40 -11.49

Others 243.47 331.74 36.25

Total  978.20 970.70 -0.77

Sources: CBSL, SL Customs

Table 3: Comparison of Region wise Merchandise Export Performance

Values in US$ Mns

Region January  2023 January  2024 % Growth (23-24)
United States 254.78 220.48 -13.46
European Union (EU) excluding UK 202.23 195.33 -3.41
South Asia 96.51 92.95 -3.69
ASEAN 121.46 81.38 -33.00
CIS Countries 33.08 17.94 -45.77
African Countries 27.49 24.95 -9.24
Middle East Countries (excl. Cyprus & Egypt) 21.21 19.09 -10.00
Others 221.44 318.58 43.87
Total Merchandise Exports 978.20 970.70 -0.77
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