Sri Lanka’s exports surpassed USD 1bn mark in July after four months

Sri Lanka’s exports have surpassed the $ 1 billion mark in July after four months’ time period where a similar achievement was recorded in March during this year.

As per the figures released by the Sri Lanka Customs, Sri Lanka recorded exports worth US$ 1,099.41 million in July 2021, the highest ever monthly achievement, which showed an increase of 1.33% over US$ 1,085 million in July 2020 and an increase of 12.39 percent over US$ 978.2 million in July 2019.

Export Development Board (EDB) Chairman Suresh D de Mel said; “Sri Lanka’s exports show a remarkable rise despite the current pandemic situation across the World, thanks to the utmost courage, determination and continuous improvements shown by our exporters in sustaining export business during the pandemic.

Table 1: Merchandise Export Performance

                                                                                                            Values in US$ Mns

 Exports of Goods Jan-July 2019 Jan-July 2020 Jan-July 2021 % Growth (20-21) July 2020 July 2021 % Growth (20-21)
 Apparel 3226.11 2403.70 2930.87 21.93 467.04 452.55 -3.10
 Tea 796.26 702.60 765.66 8.98 130.92 115.13 -12.06
 Rubber-based 535.32 434.27 616.59 41.98 85.08 96.65 13.60
 Coconut-based 370.35 356.37 464.42 30.32 74.79 76.67 2.51
 Diamond, Gems & Jewelry 175.29 85.52 148.78 73.97 14.34 21.41 49.30
 Electronics & Electronic Components 227.99 176.26 241.45 36.99 32.16 39.46 22.70
 Spices and Concentrates 170.69 155.71 243.62 56.46 41.23 45.96 11.47
 Food & Beverages 220.98 218.43 211.37 -3.23 62.15 36.99 -40.48
 Seafood 163.99 117.59 146.85 24.88 18.48 40.48 119.05
 Ornamental Fish 9.13 7.82 11.64 48.85 1.44 4.94 243.06
 Vegetables 18.38 15.52 14.66 -5.54 2.68 3.68 37.31
 Fruits 24.62 21.43 21.89 2.15 3.70 4.09 10.54
 Other Export Crops 17.15 49.69 32.66 -34.27 10.53 6.01 -42.92
 Flowers & Foliage 11.65 7.72 9.20 19.17 1.08 2.03 87.96
 Boat Building 63.61 1.64 2.67 62.80 0.28 0.14 -50.00
 Petroleum Products 196.70 205.82 115.01 -44.12 35.18 50.58 43.77
 Others 680.9 492.44 683.79 38.86 103.92 102.64 -1.23
 Total Merchandize Exports 6,909.12 5,452.53 6,661.13 22.17 1,085.0 1,099.41 1.33

Table 2 : Top 10 Export Destinations

  Country Jan-July 2020 Jan-July 2021 % Growth (20-21) July 2020 July 2021 % Growth (20-21)
1 United States 1,403.54 1,631.36 16.23 256.09 276.22 7.86
2 United Kingdom 461.7 525.35 13.79 100.1 81.17 -18.91
3 India 339.39 429.47 26.54 61.87 68.42 10.59
4 Germany 312.57 417.81 33.67 62.29 66.89 7.38
5 Italy 233.46 325.09 39.25 50.48 50.23 -0.50
6 Netherlands 146.99 232.09 57.90 36.65 38.38 4.72
7 Belgium 156.75 186.54 19.00 34.18 27.00 -21.01
8 Canada 109.58 173.38 58.22 21.28 31.30 47.09
9 China 114.66 164.62 43.57 25.31 23.94 -5.41
10 UAE 113.21 152.52 34.72 19.25 35.93 86.65
  Others 2,060.68 2,422.90 17.58 417.50 399.93 -4.21
  Total 5,452.53 6,661.13 22.17 1,085.0 1,099.41 1.33

Table 3 : Export Regions

Region Jan-July 2020 Jan-July 2021 % Growth (20-21) July 2020 July 2021 % Growth (20-21)
EU excluding UK 1205.31 1634.23 35.59 256.54 248.84 -3.00
United States 1,403.54 1,631.36 16.23 256.09 276.22 7.86
South Asia 525.38 663.68 26.32 102.70 112.71 9.75
Asean Countries 174.48 166.88 -4.36 35.19 31.64 -10.09
CIS Countries 155.27 148.5 -4.36 27.22 21.47 -21.12
African Countries 140.72 178.3 26.71 33.66 24.71 -26.59
Middle East Countries (Excl. Cyprus & Egypt) 423.61 472.5 11.54 78.76 89.21 13.27
Others 1,424.22 1,765.68 23.98 294.84 294.61 -0.08
Total Merchandise Exports 5,452.53 6,661.13 22.17 1,085.0 1,099.41 1.33

Export of Services

The services exports estimated by EDB which includes ICT/BPM, Construction, Financial Services, and Transport & Logistics recorded worth of US $ 1,885.88 Mn during the period of January to July 2021 compared to US$ 1,482.41 Mn recorded in the corresponding period of 2020.

Estimated service exports increased by 27.22 % during the period of January to July 2021 compared to the corresponding period of 2020.