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Sri Lanka’s exports decreased by 8-pct to USD 1Bn in Feb 2023 compared to Feb 2022

Sri Lanka’s merchandise exports decreased by 8.06 % to US$ 1,005.2 Million in February 2023 compared to February 2022 as per the data released by Sri Lanka Customs. However, it is a 5.62% increase when compared to February 2021.

Table 1: Merchandise Export Performance

                                                                                                            Values in US$ Mns

Exports of Goods Jan-Feb 2022 Jan-Feb 2023 % Growth (22-23) Feb 2022 Feb 2023 % Growth (22-23)
Apparel & Textile 1,009.24 906.46 -10.18 494.82 483.35 -2.32
Tea 192.09 204.13 6.27 100.86 104.57 3.68
Rubber-based 180.29 152.45 -15.44 93.17 76.58 -17.81
Coconut-based 136.19 102.72 -24.58 67.92 54.51 -19.74
Diamond, Gems & Jewelery 44.55 69.09 55.08 19.46 22.58 16.03
Electronics & Electronic   Components 73.77 81.29 10.19 37.82 43.01 13.72
Spices and Concentrates 62.12 68.98 11.04 27.15 34.48 27.00
Processed Food & Beverages 68.76 63.80 -7.21 37.98 31.44 -17.22
Seafood 45.29 40.94 -9.60 21.17 19.99 -5.57
Ornamental Fish 3.22 4.20 30.43 1.45 2.00 37.93
Vegetables 4.12 4.75 15.29 1.74 2.28 31.03
Fruits 5.26 6.56 24.71 2.13 3.32 55.87
Other Export Crops 9.20 4.68 -49.13 3.86 2.54 -34.20
Flowers & Foliage 2.59 2.49 -3.86 1.36 1.34 -1.47
Boat Building 0.31 2.23 0.40 -82.06 2.05 0.33
Petroleum Products 50.98 102.26 100.59 16.96 24.42 43.99
Others 307.96 166.39 -45.97 247.51 96.74 -60.91
Total Merchandize Exports 2,195.94 1,983.42 -9.68 1,093.3 1,005.2 -8.06

Sources: CBSL, SL Customs

Table 2: Top 15 Export Destinations

Values in US$ Mns

  Destination Jan-Feb 2022 Jan-Feb 2023 % Growth (22-23) Feb 2022 Feb 2023 % Growth (22-23)
1 United States 587.50 485.83 -17.31 292.25 231.06 -20.94
2 United Kingdom 162.88 146.25 -10.21 81.72 68.83 -15.77
3 India 148.97 139.72 -6.21 77.25 70.13 -9.22
4 Germany 120.90 98.61 -18.44 60.70 50.49 -16.82
5 Italy 102.91 100.28 -2.56 53.21 54.07 1.62
6 Netherlands 71.75 54.10 -24.60 33.06 27.55 -16.67
7 Canada 57.50 54.79 -4.71 27.69 35.23 27.23
8 UAE 44.72 98.95 121.27 20.84 27.60 32.44
9 Belgium 47.46 37.36 -21.28 22.68 17.79 -21.56
10 France 43.03 35.22 -18.15 19.52 17.33 -11.22
11 Australia 39.13 35.50 -9.28 19.99 17.68 -11.56
12 China 44.09 40.83 -7.39 25.28 21.47 -15.07
13 Japan 31.82 29.73 -6.57 15.90 14.36 -9.69
14 Bangladesh 50.06 33.31 -33.46 16.03 19.36 20.77
15 Mexico 34.38 28.77 -16.32 19.18 14.25 -25.70
  Others 608.84 564.17 -7.34 308.00 318.00 3.25
  Total 2,195.94 1,983.42 -9.68 1,093.30 1,005.20 -8.06

Sources: CBSL, SL Customs

Table 3: Export Regions

Values in US$ Mns

Region Jan-Feb 2022 Jan-Feb 2023 % Growth (22-23) Feb 2022 Feb 2023 % Growth (22-23)
United States 587.50 485.83 -17.31 292.25 231.06 -20.94
European Union (EU) excluding UK 488.42 417.71 -14.48 241.68 215.48 -10.84
South Asia 232.64 253.65 9.03 109.78 157.13 43.13
ASEAN 144.22 198.91 37.92 69.73 77.45 11.07
CIS Countries 56.05 59.18 5.58 27.2 26.11 -4.01
African Countries 49.79 55.91 12.29 25.24 28.42 12.60
Middle East Countries (excl. Cyprus & Egypt) 43.84 39.47 -9.97 22.54 18.27 -18.94
Others 593.48 472.76 -20.34 304.88 251.28 -17.58
Total Merchandise Exports 2,195.94 1,983.42 -9.68 1,093.30 1,005.20 -8.06

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