Total exports for November 2024, including both merchandise and services, were recorded at US$ 1,269.33 million, reflecting a marginal increase of 0.04% compared to the same period in 2023.
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in November 2024 amounted to US$ 943.1 million, reflecting a 5.6% decline compared to November 2023. This decrease is primarily attributed to reduced earnings from exports of Rubber-based products, Electrical and Electronic components, Food & Beverages, and Seafood.
However, services exports for the month of November 2024 were estimated at US$ 326.23 Million, reflecting a 20.89 % increase over the corresponding period of 2023.
Table 1: Comparison of Sector-wise Export Performance
Values in US$ Mns
| Exports of Goods & Services | Jan-Nov 2023 | Jan-Nov 2024 | % Growth (23-24) | Nov 2023 | Nov 2024 | % Growth (23-24) |
| Apparel & Textile | 4,425.74 | 4,604.16 | 4.03 | 395.05 | 397.19 | 0.54 |
| Tea | 1,198.77 | 1,304.26 | 8.80 | 112.82 | 118.15 | 4.72 |
| Rubber-based | 850.61 | 920.81 | 8.25 | 78.74 | 77.20 | -1.96 |
| Coconut-based | 652.70 | 782.32 | 19.86 | 62.06 | 70.18 | 13.08 |
| Diamond, Gems & Jewelery | 370.28 | 271.02 | -26.81 | 27.78 | 19.72 | -29.01 |
| Electronics & Electronic Components | 451.68 | 382.39 | -15.34 | 37.39 | 35.08 | -6.18 |
| Spices and Concentrates | 366.37 | 414.67 | 13.18 | 30.99 | 41.27 | 33.17 |
| Processed Food & Beverages | 398.74 | 436.56 | 9.48 | 39.57 | 36.29 | -8.29 |
| Seafood | 238.43 | 212.78 | -10.76 | 25.20 | 16.46 | -34.68 |
| Ornamental Fish | 24.35 | 22.48 | -7.68 | 2.44 | 1.79 | -26.64 |
| Vegetables | 26.63 | 26.73 | 0.38 | 2.32 | 2.58 | 11.21 |
| Fruits | 39.84 | 37.92 | -4.82 | 3.60 | 3.44 | -4.44 |
| Other Export Crops | 88.26 | 59.54 | -32.54 | 4.44 | 5.58 | 25.68 |
| Flowers & Foliage | 13.72 | 12.42 | -9.48 | 1.41 | 0.88 | -37.59 |
| Boat Building | 77.75 | 40.66 | -47.70 | 10.22 | 0.30 | -97.06 |
| Petroleum Products | 358.55 | 381.71 | 6.46 | 33.06 | 27.18 | -17.79 |
| Others | 1,326.58 | 1,701.47 | 28.26 | 131.91 | 89.81 | -31.92 |
| Total Merchandize Exports | 10,909.00 | 11,611.90 | 6.44 | 999.00 | 943.10 | -5.60 |
| ICT/ BPM | 1,120.93 | 1,325.79 | 18.28 | 102.43 | 141.39 | 38.04 |
| Construction | 325.40 | 201.63 | -38.04 | 26.90 | 19.23 | -28.52 |
| Financial Services | 56.06 | 46.37 | -17.30 | 6.46 | 3.27 | -49.46 |
| Transport & Logistics | 1,453.35 | 1,600.27 | 10.11 | 134.07 | 162.34 | 21.09 |
| Total Services Exports | 2,955.74 | 3,174.06 | 7.39 | 269.86 | 326.23 | 20.89 |
| Total Exports | 13,864.74 | 14,785.96 | 6.64 | 1,268.86 | 1,269.33 | 0.04 |
Sources: CBSL, Sri Lanka Customs
Table 2: Comparison of Merchandise Export Performance of Top 15 Export Destinations
Values in US$ Mns
|
| Destination | Jan-Nov 2023 | Jan-Nov 2024 | % Growth (23-24) | Nov 2023 | Nov 2024 | % Growth (23-24) |
| 1 | United States | 2,504.82 | 2,659.95 | 6.19 | 223.26 | 227.17 | 1.75 |
| 2 | United Kingdom | 773.83 | 834.27 | 7.81 | 64.74 | 68.60 | 5.96 |
| 3 | India | 776.00 | 796.88 | 2.69 | 55.17 | 70.31 | 27.44 |
| 4 | Italy | 632.04 | 550.82 | -12.85 | 60.55 | 45.61 | -24.67 |
| 5 | Germany | 529.80 | 568.29 | 7.27 | 45.52 | 41.46 | -8.92 |
| 6 | United Arab Emirates | 329.14 | 300.48 | -8.71 | 27.46 | 19.98 | -27.24 |
| 7 | Netherlands | 306.46 | 354.05 | 15.53 | 35.53 | 37.57 | 5.74 |
| 8 | France | 285.45 | 242.49 | -15.05 | 18.46 | 19.58 | 6.07 |
| 9 | Canada | 268.96 | 296.18 | 10.12 | 19.21 | 25.94 | 35.03 |
| 10 | China | 238.05 | 228.52 | -4.00 | 38.04 | 21.66 | -43.06 |
| 11 | Australia | 207.77 | 223.87 | 7.75 | 19.96 | 21.63 | 8.37 |
| 12 | Belgium | 205.24 | 216.99 | 5.73 | 18.35 | 20.40 | 11.17 |
| 13 | Turkey | 183.04 | 126.75 | -30.75 | 15.37 | 11.53 | -24.98 |
| 14 | Japan | 174.18 | 162.82 | -6.52 | 15.10 | 15.45 | 2.32 |
| 15 | Switzerland | 173.52 | 153.10 | -11.77 | 14.95 | 12.77 | -14.58 |
|
| Others | 3,320.70 | 3,896.44 | 17.34 | 327.33 | 283.44 | -13.41 |
|
| Total | 10,909.00 | 11,611.90 | 6.44 | 999.00 | 943.10 | -5.60 |
Sources: CBSL, Sri Lanka Customs
Table 3: Comparison of Region wise Merchandise Export Performance
Values in US$ Mns
| Region | Jan-Nov 2023 | Jan-Nov 2024 | % Growth (23-24) | Nov 2023 | Nov 2024 | % Growth (23-24) |
| United States | 2,504.82 | 2,659.95 | 6.19 | 223.26 | 227.17 | 1.75 |
| European Union (EU) excluding UK | 2,485.88 | 2,497.38 | 0.46 | 228.31 | 213.41 | -6.53 |
| South Asia | 1,113.27 | 1,221.88 | 9.76 | 83.54 | 96.35 | 15.33 |
| ASEAN | 922.48 | 878.16 | -4.80 | 71.43 | 70.14 | -1.81 |
| CIS Countries | 298.81 | 292.90 | -1.98 | 26.72 | 30.67 | 14.78 |
| African Countries | 304.77 | 318.21 | 4.41 | 28.57 | 28.75 | 0.63 |
| Middle East Countries (excl. Cyprus & Egypt) | 221.63 | 263.16 | 18.74 | 18.32 | 25.14 | 37.23 |
| Others | 3,057.34 | 3,480.26 | 13.83 | 318.85 | 251.47 | -21.13 |
| Total Merchandise Exports | 10,909.00 | 11,611.90 | 6.44 | 999.00 | 943.10 | -5.60 |
Sources: CBSL, Sri Lanka Customs