Sri Lanka’s exports increased by 13-pct in January 2022

Sri Lanka’s merchandise exports increased by 13% to US$ 1,062.63 Million in January 2022 compared to January 2021 as per the data released by the Sri Lanka Customs. Further, it is a 5.7% increase when compared to January 2020.

Table 1: Merchandise Export Performance

                                                                                                            Values in US$ Mns

Exports of Goods Jan 2020 Jan 2021 Jan 2022 % Growth (21-22)
Apparel & Textile 472.07 421.28 514.41 22.11
Tea 99.73 100.99 91.23 -9.66
Rubber-based 72.89 84.16 87.1 3.49
Coconut-based 49.05 54.18 68.28 26.02
Diamond, Gems & Jewelery 28.20 28.94 25.08 -13.34
Electronics & Electronic   Components 28.23 31.85 35.87 12.62
Spices and Concentrates 19.54 42.22 34.97 -17.17
Processed Food & Beverages 27.01 31.35 30.74 -1.95
Seafood 23.66 16.90 24.11 42.66
Ornamental Fish 1.45 0.88 1.78 102.27
Vegetables 2.63 1.70 2.36 38.82
Fruits 3.84 2.86 3.15 10.14
Other Export Crops 8.19 2.47 5.34 116.19
Flowers & Foliage 1.05 1.09 1.22 11.93
Boat Building 0.40 0.05 0.17 240.00
Petroleum Products 35.64 0.46 34.02 7295.65
Others 131.32 115.32 102.80 -10.86
Total Merchandize Exports 1,004.9 936.70 1,062.63 13.44

Table 2: Top 10 Export Destinations

Values in US$ Mns

  Country Jan 2020 Jan 2021 Jan 2022 % Growth  (21-22)
1 United States 267.61 233.53 295.25 26.43
2 United Kingdom 85.31 61.49 81.16 31.99
3 India 63.21 55.65 71.72 28.88
4 Germany 51.89 53.45 60.20 12.63
5 Italy 45.46 53.04 49.69 -6.32
6 Belgium 29.61 23.70 24.78 4.56
7 Netherlands 22.71 34.86 38.68 10.96
8 Canada 17.07 23.83 29.82 25.14
9 China 19.25 21.98 18.81 -14.42
10 UAE 15.72 15.22 23.88 56.90
  Others 387.06 359.95 368.64 2.41
  Total 1,004.90 936.70 1,062.63 13.44

Exports to FTA Partners

During the month of January 2022, exports to Free Trade Agreement (FTA) partners accounted for 7.2% of total merchandise exports increased by 28 % to US$ 80.31 Mn.

Moreover, Exports to India and Pakistan increased by 28.9% and 21% y-o-y to US$ 71.72 Mn and US$ 8.59 Mn respectively during the month of January 2022. Increased Exports to India is mainly supported by increased exports of Animal Feed (11%), Pepper (17.86%), Woven fabrics (26.5%) and Apparel (65.51%) in January 2022.

In addition, better performance recorded in Pakistan led by Desiccated Coconut, Other Articles of Stones, Woven Fabrics and Perfumes, Cosmetics, Shampoos & Makeup Preparations and Other Electrical & Electronic Products.

Table 3: Export Regions

Values in US$ Mns

Region Jan 2020 Jan 2021 Jan 2022 % Growth (21-22)
European Union (EU) excluding UK 212.7 204.03 206.74 1.33
United States 237.61 223.53 255.25 14.19
South Asia 100.02 61.58 112.86 83.27
ASEAN 43.11 63.71 69.90 9.72
CIS Countries 18.75 17.95 28.85 60.72
African Countries 26.66 19.63 24.56 25.11
Middle East Countries (excl. Cyprus & Egypt) 24.89 21.04 21.30 1.24
Others 255.85 325.23 343.17 5.52
Total Merchandise Exports 1,004.90      936.70 1,062.63 13.44

Export of Services

The estimated value of services exports for the month of January 2022 was 313.22 Million dollars, increasing 42.2 % over the corresponding month of 2021. The services exports estimated by EDB consists of ICT/BPM, Construction, Financial services and Transport & Logistics.

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