Sri Lanka exports recorded 5-billion-dollar mark in five months

Earnings from the merchandise exports increased by 9.9 % y-o-y to US$ 980.2 Mn in May 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in earnings from export of Apparel & Textiles, Coconut based products and Electrical & Electronic Components.

Table 1: Merchandise Export Performance

                                                                                                            Values in US$ Mns

Exports of Goods Jan-May 2020 Jan-May 2021 Jan-May 2022 % Growth May 2021 May 2022 % Growth
 Apparel & Textiles 1,534.6 2,064.2 2,400.6 16.3 370.9 482.7 30.1
 Tea 456.7 526.6 460.9 -12.5 109.2 93.7 -14.2
 Rubber-based 280.3 424.5 414.3 -2.4 91.2 76.7 -15.9
 Coconut-based 216.6 317.2 350.0 10.4 66.7 70.6 5.8
 Diamond, Gems & Jewelry 61.0 107.0 115.0 7.5 14.2 16.9 18.8
 Electronics & Electronic Components 113.1 164.3 188.3 14.6 35.2 41.8 18.8
 Spices and Essential Oils 82.8 162.0 128.6 -20.6 25.3 21.5 -14.9
 Food & Beverages 124.7 147.7 164.6 11.5 30.2 32.2 6.4
 Seafood 74.8 90.6 105.8 16.7 15.1 16.8 11.8
 Ornamental Fish 4.4 5.9 7.1 19.7 0.9 1.3 41.1
 Vegetables 9.7 9.6 9.7 1.7 1.7 1.8 1.1
 Fruits & Nuts 14.2 14.8 12.8 -13.4 2.8 2.3 -18.3
 Other Export Crops 29.9 23.5 34.1 45.0 4.5 10.8 139.1
 Flowers & Foliage 5.2 5.7 6.0 6.3 0.9 1.1 18.1
 Boat Building 1.3 1.5 5.3 254.7 0.5 0.1 -73.6
 Petroleum Products 141.0 51.1 72.2 41.1 27.7 7.1 -74.4
 Others 368.3 575.8 670.0 16.4 94.6 102.9 8.7
 Total Merchandize Exports 3,518.6 4,692.0 5,145.4 9.7 891.7 980.2 9.9

Table 2: Top 10 Export Destinations

Values in US$ Mns

  Country Jan-May 2020 Jan-May 2021 Jan-May 2022 % Growth May 2021 May 2022 % Growth
1 United States 905.10 1,133.71 1,364.08 20.32 213.11 266.42 25.02
2 United Kingdom 296.21 366.53 411.62 12.30 72.29 78.22 8.20
3 India 220.53 302.63 364.99 20.61 55.28 82.51 49.26
4 Germany 195.85 286.00 303.55 6.14 53.80 56.20 4.46
5 Italy 135.66 226.02 243.86 7.89 40.45 51.45 27.19
6 Belgium 94.35 132.18 122.07 -7.65 26.71 27.04 1.24
7 Netherlands 88.16 162.21 161.58 -0.39 27.11 31.18 15.01
8 Canada 71.92 114.98 144.76 25.90 20.47 28.70 40.21
9 China 71.21 116.96 98.29 -15.96 20.91 18.96 -9.33
10 UAE 77.09 93.20 109.52 17.51 23.03 20.34 -11.68
  Other Markets 1,362.52 1,757.58 1,821.08 3.61 338.54 319.18 -5.72
  Total 3,518.6 4,692.0 5,145.4 9.7 891.7 980.2 9.9

Table 3: Export Regions

Values in US$ Mns

Region Jan-May 2020 Jan-May 2021 Jan-May 2022 % Growth May 2021 May 2022 % Growth
United States 905.1 1,133.7 1,364.1 20.32 213.1 266.4 25.02
European Union (EU) excluding UK 742.0 1,136.0 1,190.9 4.84 210.1 234.0 11.39
South Asia 333.1 455.9 540.0 18.46 94.9 114.8 20.95
Middle East Countries (Excl. Cyprus & Egypt) 278.9 310.3 351.2 13.18 66.4 68.8 3.60
African Countries 80.8 123.6 130.4 5.45 23.6 26.3 11.37
Asean Countries 118.3 112.5 113.6 0.92 22.9 19.1 -16.87
CIS Countries 103.0 102.6 79.4 -22.64 20.0 12.2 -38.83
Others 957.5 1,317.4 1,375.8 4.44 240.8 238.7 -0.85
Total Merchandise Exports 3,518.6 4,692.0 5,145.4 9.7 891.7 980.2 9.9

Export of Services

The estimated value of services exports for the period of January to May 2022 was 1,472.7 Million dollars, increasing 93.3 % over the corresponding period of 2021. The services exports estimated by EDB consists of ICT/BPM, Construction, Financial services and Transport & Logistics.

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