Sri Lanka records USD 798.9 Mn exports in April

Sri Lanka’s export performance continued its upward momentum in the first three months of 2021. Due to the Covid-19 pandemic-induced lockdown last year, exports were contracted by a record 64.63 percent in April 2020. However in April this year, exports grew up by 183 percent to US$ 798.9 Mn in comparison to the previous year.

This growth could be attributed to the gradual lifting of Covid 19 restrictions imposed within the country and globally. It must be noted that the year-on-year growth in April 2021 was largely due to the negative growth a year ago.

The Export Development Board (EDB) Chairman Suresh de Mel said, “in comparison to the lowest point in April 2020, exports are up by 183% in April 2021. We thank the entire export community for serving the national economic needs at this vulnerable time. The EDB staff and I stand committed to help our exporters through this crisis in the best way possible”.

Export Performance of Major Sectors

Table 1: Merchandise Export Performance

                                                                                                            Values in US$ Mns

 Exports of Goods Jan-Apr 2020 Jan-Apr 2021 % Growth (20-21) April  2020 April 2021 % Growth (20-21)
 Apparel 1,315.78 1,693.31 28.69 64.91 365.04 462.38
 Tea 348.44 417.38 19.79 78.37 79.26 1.14
 Rubber-based 229.11 333.28 45.47 25.77 64.74 151.22
 Coconut-based 164.81 250.49 51.99 27.88 55.76 100.00
 Diamond, Gems &  Jewelry 54.44 92.86 70.57 1.05 27.77 2544.76
 Electronics & Electronic Components 91.42 129.09 41.21 9.46 27.06 186.05
 Spices and Essential Oils 63.49 136.76 115.40 12.09 22.46 85.77
 Food & Beverages 100.82 117.44 16.48 13.83 27.77 100.80
 Seafood 63.26 75.55 19.43 6.27 19.19 206.06
 Ornamental Fish 3.94 5.03 27.66 0.25 1.25 400.00
 Vegetables 7.92 7.83 -1.14 1.24 1.87 50.81
 Fruits 11.34 11.98 5.64 2.14 2.87 34.11
 Other Export Crops 24.77 19.00 -23.29 1.75 4.84 176.57
 Flowers & Foliage 4.37 4.74 8.47 0.42 1.02 142.86
 Boat Building 0.91 0.95 4.40 0.00 0.31  
 Petroleum Products 114.41 23.42 -79.53 8.69 13.46 54.89
 Others 254.65 380.23 49.31 28.18 84.23 198.90
 Total Merchandize Exports 2,853.88 3,699.34 29.62 282.3 798.9 183.00

Sources:  Sri Lanka Customs / Sri Lanka Export Development Board

Top 10 Export Destinations

  Country Jan-Apr 2020 Jan-Apr 2021 % Growth (20-21) April  2020 April 2021 % Growth (20-21)
1 United States 759.58 920.60 21.20 50.82 205.20 303.78
2 United Kingdom 253.65 294.23 16.00 14.89 68.34 358.97
3 India 184.90 247.35 33.78 11.58 53.91 365.54
4 Germany 157.76 232.20 47.19 15.51 52.03 235.46
5 Italy 117.57 185.57 57.84 5.02 33.52 567.73
6 Belgium 78.70 105.47 34.02 5.85 22.26 280.51
7 Netherlands 71.60 134.99 88.53 8.74 28.21 222.77
8 China 58.25 96.05 64.89 10.58 18.81 77.79
9 Canada 59.19 94.51 59.67 4.39 22.37 409.57
10 Turkey 52.55 65.45 24.55 8.99 10.50 16.80
  Other Markets 1,060.13 1,322.92 24.79 145.93 283.75 94.44
  Total Merchandise Exports 2,853.88 3,699.34 29.62 282.3 798.9 183.00

Sources: Sri Lanka Customs & Sri Lanka Export Development Board

Export Regions

Region Jan-Apr 2020 Jan-Apr 2021 % Growth (20-21) April  2020 April 2021 % Growth (20-21)
EU excluding UK 613.11 925.95 51.03 53.78 192.43 257.81
United States 759.58 920.60 21.20 50.82 205.20 303.78
South Asia 282.55 361.01 27.77 20.66 78.32 279.09
ASEAN Countries 101.70 89.58 -11.92 13.37 26.19 95.89
CIS Countries 79.97 82.56 3.24 19.92 16.03 -19.53
African Countries 65.85 100.05 51.94 9.06 25.68 183.44
Middle East Countries (Excl. Cyprus & Egypt) 216.71 243.93 12.56 31.59 49.17 55.65
Others 734.41 975.66 32.85 83.10 205.88 147.75
Total Merchandise Exports 2,853.88 3,699.34 29.62 282.3 798.9 183.00

Sources: Sri Lanka Customs & Sri Lanka Export Development Board

Export of Services

The services exports estimated by EDB which includes ICT/BPM, Construction, Financial services and Transport & Logistics show exports of US $ 1,194.3 Mn for the period of January to April 2021 compared to US$ 1,021.9 Mn recorded in the corresponding period of 2020. Estimated service exports increased by 16.87 % in the first four months of 2021 compared to the corresponding period of 2020.