Sri Lanka’s September 2024 merchandise exports dip by 3.5-pct

As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in September 2024 amounted to US$ 937.95 million, recorded a decline of 3.49 % compared to the month of September 2023. This was mainly due to the decrease in earnings from export of Tea, Rubber based products, Electrical & Electronics and Seafood.

The estimated value of services exports for the month of September 2024 was US$ 329.89 Million, increasing 6.08 % over the corresponding period of 2023.

Consequently, total exports for September 2024, including both merchandise and services, were recorded at US$ 1,267.84 million, decreasing 1.17 % over the corresponding period of 2023.

Table 1: Comparison of Sector-wise Export Performance 

                           Values in US$ Mns

Exports of Goods & Services Jan-Sept 2023 Jan-Sept 2024 % Growth (23-24) Sept  2023 Sept 2024 % Growth (23-24)
Apparel & Textile 3,677.38  3,776.72  2.70 361.83 418.68 15.71
Tea 990.30  1,059.29  6.97 119.96 117.03 -2.44
Rubber-based 692.16  758.91  9.64 82.90 79.50 -4.10
Coconut-based 530.99  634.93  19.57 64.31 70.97 10.36
Diamond, Gems & Jewelery 306.12  230.38  -24.74 39.56 16.08 -59.35
Electronics & Electronic   Components 376.69  310.44  -17.59 38.88 28.10 -27.73
Spices and Concentrates 302.69  322.09  6.41 38.01 48.04 26.39
Processed Food & Beverages 322.31  348.95  8.27 30.53 33.21 8.78
Seafood 192.96  179.36  -7.05 25.65 14.83 -42.18
Ornamental Fish 19.44  18.71  -3.76 2.53 2.17 -14.23
Vegetables 21.60  21.33  -1.25 2.64 1.95 -26.14
Fruits 32.32  30.50  -5.63 3.53 3.42 -3.12
Other Export Crops 74.62  49.82  -33.24 12.94 3.42 -73.57
Flowers & Foliage 11.07  10.32  -6.78 1.20 1.09 -9.17
Boat Building 67.25  25.75  -61.71 0.09 0.84 833.33
Petroleum Products 294.82  283.96  -3.68 27.22 9.09 -66.61
Others 1,069.28  1,375.65  28.65 120.12  89.53  -25.47
Total Merchandize Exports 8,982.00  9,437.11  5.07 971.90  937.95  -3.49
ICT/ BPM 919.57  1,089.88  18.52 116.80 150.28 28.66
Construction 274.11  155.93  -43.12 63.31 15.83 -75.00
Financial Services 44.61  44.08  -1.20 4.07 5.38 32.05
Transport & Logistics 1,147.28  1,287.33  12.21 126.79 158.40 24.94
Total Services Exports 2,385.57  2,577.22  8.03 310.97  329.89  6.08
Total Exports 10,129.28 12,014.33 5.69 1,282.87 1,267.84 -1.17

Sources: CBSL, Sri Lanka Customs

Table 2: Comparison of Merchandise Export Performance of Top 15 Export Destinations 

Values in US$ Mns


Destination Jan-Sept 2023 Jan-Sept 2024 % Growth (23-24) Sept  2023 Sept 2024 % Growth (23-24)
1 United States 2,074.80 2,185.45 5.33 202.1 245.69 21.57
2 United Kingdom 645.74 691.31 7.06 74.98 77.75 3.69
3 India 655.6 643.78 -1.80 79.68 66.31 -16.78
4 Italy 507.32 441.88 -12.90 62.46 46.19 -26.05
5 Germany 438.41 477.33 8.88 42.11 47.32 12.37
6 United Arab Emirates 279.72 256.24 -8.39 25.17 22.37 -11.12
7 Netherlands 246.44 285.57 15.88 21.48 32.29 50.33
8 France 248.33 199.24 -19.77 21.27 20.75 -2.44
9 Canada 230.00 243.17 5.73 23.10 24.04 4.07
10 China 176.99 186.52 5.38 15.30 16.66 8.89
11 Australia 169.25 180.71 6.77 16.88 18.94 12.20
12 Belgium 169.98 174.08 2.41 19.22 19.50 1.46
13 Turkey 154.74 104.85 -32.24 19.8 9.86 -50.20
14 Japan 145.20 129.98 -10.48 14.36 14.15 -1.46
15 Switzerland 140.71 126.77 -9.91 12.25 9.85 -19.59

Others 2,698.77 3,110.23 15.25 321.74 266.28 -17.24

Total  8,982.00  9,437.11  5.07 971.90  937.95  -3.49

Sources: CBSL, Sri Lanka Customs

Table 3: Comparison of Region wise Merchandise Export Performance

Values in US$ Mns

Region Jan-Sept 2023 Jan-Sept 2024 % Growth (23-24) Sept  2023 Sept 2024 % Growth (23-24)
United States 2,074.80 2,185.45 5.33 202.1 245.69 21.57
European Union (EU) excluding UK 2,044.40 2,031.68 -0.62 215.25 216.19 0.44
South Asia 937.71 962.97 2.69 110.54 90.49 -18.14
ASEAN 778.00 732.61 -5.83 90.51 68.59 -24.22
CIS Countries 246.57 229.79 -6.81 30.92 26.17 -15.36
African Countries 251.75 265.41 5.43 32.34 23.55 -27.18
Middle East Countries (excl. Cyprus & Egypt) 185.95 210.34 13.12 20.43 23.89 16.94
Others 2,462.82 2,818.86 14.46 269.81 243.38 -9.80
Total Merchandise Exports 8,982.00  9,437.11  5.07 971.90  937.95  -3.49

Sources: CBSL, Sri Lanka Customs

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