Sri Lankan merchandise exports grew to an all-time record for the month of April

Earnings from the merchandise exports increased by 11.87% y-o-y to US$ 915.3 Mn in April 2022, the highest monthly value recorded for the month of April.

This was mainly due to the increase in earnings from the export of Apparel & Textiles, Coconut based products, and Rubber-based products. Further, a sizable increase was recorded in the exports of Electrical & Electronic Components and in the Seafood sector.

Sri Lankan merchandise exports grew to an all-time record for the month of April to US$ 915.3 Mn this year, surpassing the previous high of US$ 799 Mn achieved in 2021, Suresh D de Mel, Chairman – Export Development Board (EDB) said.

It must also be highlighted that efficient facilitation of the supply of fuel and energy to our exporters is imperative to keep this momentum going while appealing for an expedited solution to the current crisis.

Further, we need to focus on niche markets while consolidating the market share in the US and EU. Export product diversification must simultaneously happen so that we can create more billion-dollar industries for Sri Lanka which we are lacking today.”

Monthly Merchandize Export Performance, 2020 – April 2022 in Millions of US$

Table 1: Merchandise Export Performance

                                                                                                            Values in US$ Mns

Exports of Goods Jan-Apr 2020 Jan-Apr 2021 Jan-Apr 2022 % Growth Apr 2021 Apr 2022 % Growth
 Apparel & Textiles 1,315.78 1,693.31 1,917.95 13.27 365.04 445.79 22.12
 Tea 348.44 417.38 367.21 -12.02 79.26 80.44 1.49
 Rubber-based 229.11 333.28 337.58 1.29 64.74 71.27 10.09
 Coconut-based 164.81 250.49 279.44 11.56 55.76 70.73 26.85
 Diamond, Gems & Jewelry 54.44 92.86 98.20 5.75 27.77 25.49 – 8.21
 Electronics & Electronic Components 91.42 129.09 146.48 13.47 27.06 34.38 27.05
 Spices and Essential Oils 63.49 136.76 107.13 -21.67 22.46 21.55 -4.05
 Food & Beverages 100.82 117.44 132.47 12.80 24.60 30.92 25.69
 Seafood 63.26 75.55 88.94 17.72 19.19 21.22 10.58
 Ornamental Fish 3.94 5.03 5.83 15.90 1.25 1.03 -17.60
 Vegetables 7.92 7.83 7.98 1.92 1.87 1.74 -6.95
 Fruits & Nuts 11.34 11.98 10.50 -12.35 2.87 2.67 -6.97
 Other Export Crops 24.77 19.00 23.28 22.53 4.84 8.28 71.07
 Flowers & Foliage 4.37 4.74 4.94 4.22 1.02 0.95 -6.86
 Boat Building 0.91 0.95 5.10 436.84 0.31 0.34 9.68
 Petroleum Products 114.41 23.42 65.07 177.84 13.46 4.30 -68.05
 Others 332.67 481.19 567.10 17.85 106.70 94.20 -11.72
 Total Merchandize Exports 2,931.90 3,800.30 4,165.20 9.60 818.20 915.30 11.87

Table 2: Top 10 Export Destinations

Values in US$ Mns

  Country Jan-Apr 2020 Jan-Apr 2021 Jan-Apr 2022 % Growth Apr 2021 Apr 2022 % Growth
1 United States 759.58 920.60 1,097.66 19.23 205.20 249.02 21.35
2 United Kingdom 253.65 294.23 333.40 13.31 68.34 84.14 23.12
3 India 184.90 247.35 282.48 14.20 53.91 59.47 10.31
4 Germany 157.76 232.20 247.35 6.52 52.03 66.53 27.87
5 Italy 117.57 185.57 192.42 3.69 33.52 42.57 27.00
6 Belgium 78.70 105.47 95.03 -9.90 22.26 25.93 16.49
7 Netherlands 71.60 134.99 130.40 -3.40 28.21 27.71 -1.77
8 Canada 59.19 94.51 116.06 22.80 22.37 28.68 28.21
9 China 58.25 96.05 79.32 -17.42 18.81 14.72 -21.74
10 UAE 61.62 70.17 89.19 27.11 16.33 15.00 -8.14
  Other Markets 1,129.08 1,419.16 1,501.89 5.83 297.22 301.53 1.45
  Total 2,931.90 3,800.30 4,165.20 9.60 818.20 915.30 11.87

Table 3: Export Regions

Values in US$ Mns

Region Jan-Apr 2020 Jan-Apr 2021 Jan-Apr 2022 % Growth Apr 2021 Apr 2022 % Growth
United States 759.58 920.60 1097.66 19.23 205.20 249.02 21.35
European Union (EU) excluding UK 613.11 925.95 956.94 3.35 192.43 230.91 20.00
South Asia 282.55 361.01 425.28 17.80 78.32 86.95 11.02
Middle East Countries (Excl. Cyprus & Egypt) 216.71 243.93 282.45 15.79 49.17 56.25 14.40
African Countries 65.85 100.05 104.11 4.06 25.68 18.64 -27.41
Asean Countries 101.7 89.58 94.49 5.48 26.19 23.74 -9.35
CIS Countries 79.97 82.56 67.13 -18.69 16.03 11.77 -26.58
Others 812.43 1,076.62 1,137.14 5.62 225.18 238.02 5.70
Total Merchandise Exports 2,931.90 3,800.30 4,165.20 9.60 818.20 915.30 11.87

Export of Services

The estimated value of services exports for the period of January to April 2022 was 1,188.8 Million dollars, increasing 96.2 % over the corresponding period of 2021. The services exports estimated by EDB consist of ICT/BPM, Construction, Financial Services, and Transport & Logistics.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments