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