As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in December 2024 amounted to US$ 1,042.5 million, reflecting an 4.06% increase compared to December 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, Coconut based products, Spices & Concentrates and Food & Beverages.
However, services exports for the month of December 2024 were estimated at US$ 322.92 Million, reflecting a 29.96 % increase over the corresponding period of 2023.
Consequently, total exports for December 2024, including merchandise and services, were recorded at US$ 1,365.42 million, reflecting a moderate increase of 9.21 % compared to the same period in 2023.
Table 1: Comparison of Sector-wise Export Performance
Values in US$ Mns
Exports of Goods & Services | Jan-Dec 2023 | Jan-Dec 2024 | % Growth (23-24) | Dec 2023 | Dec 2024 | % Growth (23-24) |
Apparel & Textile | 4,864.53 | 5,050.99 | 3.83 | 438.78 | 446.83 | 1.83 |
Tea | 1309.90 | 1435.87 | 9.62 | 111.12 | 131.60 | 18.43 |
Rubber-based | 930.24 | 1001.54 | 7.66 | 79.62 | 80.74 | 1.41 |
Coconut-based | 708.70 | 856.79 | 20.90 | 55.97 | 74.47 | 33.05 |
Diamond, Gems & Jewelery | 388.16 | 282.07 | -27.33 | 17.88 | 11.03 | -38.31 |
Electronics & Electronic Components | 486.66 | 421.98 | -13.29 | 34.97 | 39.60 | 13.24 |
Spices and Concentrates | 397.78 | 461.85 | 16.11 | 31.42 | 47.16 | 50.10 |
Processed Food & Beverages | 427.97 | 478.05 | 11.70 | 29.21 | 41.50 | 42.07 |
Seafood | 262.24 | 232.99 | -11.15 | 23.79 | 20.14 | -15.34 |
Ornamental Fish | 26.38 | 24.46 | -7.28 | 2.03 | 1.99 | -1.97 |
Vegetables | 29.19 | 29.79 | 2.06 | 2.58 | 3.05 | 18.22 |
Fruits | 43.27 | 41.72 | -3.58 | 3.42 | 3.79 | 10.82 |
Other Export Crops | 91.30 | 65.02 | -28.78 | 3.04 | 5.46 | 79.61 |
Flowers & Foliage | 15.01 | 13.67 | -8.93 | 1.28 | 1.25 | -2.34 |
Boat Building | 78.50 | 41.10 | -47.64 | 0.76 | 0.45 | -40.79 |
Petroleum Products | 372.04 | 415.65 | 11.72 | 13.49 | 33.95 | 151.67 |
Others | 1,478.93 | 1,851.90 | 25.22 | 152.44 | 99.49 | -34.73 |
Total Merchandize Exports | 11,910.80 | 12,705.44 | 6.67 | 1,001.80 | 1,042.50 | 4.06 |
ICT/ BPM | 1,226.87 | 1454.46 | 18.55 | 108.67 | 141.06 | 29.81 |
Construction | 354.80 | 207.50 | -41.52 | 22.30 | 15.80 | -29.15 |
Financial Services | 64.00 | 52.08 | -18.63 | 6.70 | 3.78 | -43.58 |
Transport & Logistics | 1,549.69 | 1,753.11 | 13.13 | 110.81 | 162.28 | 46.45 |
Total Services Exports | 3,195.36 | 3,467.15 | 8.51 | 248.48 | 322.92 | 29.96 |
Total Exports | 15,106.16 | 16,172.59 | 7.06 | 1,250.28 | 1,365.42 | 9.21 |
Sources: CBSL, Sri Lanka Customs
Table 2: Comparison of Merchandise Export Performance of Top 15 Export Destinations
Values in US$ Mns
| Destination | Jan-Dec 2023 | Jan-Dec 2024 | % Growth (23-24) | Dec 2023 | Dec 2024 | % Growth (23-24) |
1 | United States | 2,758.57 | 2,909.97 | 5.49 | 253.74 | 250.02 | -1.47 |
2 | United Kingdom | 846.16 | 903.72 | 6.80 | 72.33 | 69.45 | -3.98 |
3 | India | 829.70 | 883.65 | 6.50 | 53.70 | 86.77 | 61.58 |
4 | Italy | 679.05 | 595.43 | -12.31 | 47.01 | 44.62 | -5.08 |
5 | Germany | 587.40 | 628.25 | 6.95 | 57.61 | 59.96 | 4.08 |
6 | United Arab Emirates | 357.09 | 334.63 | -6.29 | 27.95 | 34.14 | 22.15 |
7 | Netherlands | 343.47 | 393.60 | 14.60 | 37.01 | 39.55 | 6.86 |
8 | France | 304.95 | 263.75 | -13.51 | 19.50 | 21.25 | 8.97 |
9 | Canada | 293.21 | 319.87 | 9.09 | 24.24 | 23.69 | -2.27 |
10 | China | 257.73 | 251.91 | -2.26 | 19.69 | 23.39 | 18.79 |
11 | Australia | 226.51 | 247.13 | 9.10 | 18.74 | 23.26 | 24.12 |
12 | Belgium | 221.45 | 239.09 | 7.97 | 16.21 | 22.10 | 36.34 |
13 | Turkey | 195.66 | 136.77 | -30.10 | 12.62 | 10.01 | -20.68 |
14 | Japan | 188.76 | 179.24 | -5.04 | 14.58 | 16.42 | 12.62 |
15 | Switzerland | 185.30 | 160.62 | -13.32 | 11.78 | 7.52 | -36.16 |
| Others | 3,635.79 | 4,257.81 | 17.11 | 315.09 | 310.35 | -1.50 |
| Total | 11,910.80 | 12,705.44 | 6.67 | 1,001.80 | 1,042.50 | 4.06 |
Sources: CBSL, Sri Lanka Customs
Table 3: Comparison of Region wise Merchandise Export Performance
Values in US$ Mns
Region | Jan-Dec 2023 | Jan-Dec 2024 | % Growth (23-24) | Dec 2023 | Dec 2024 | % Growth (23-24) |
United States | 2,758.57 | 2,909.97 | 5.49 | 253.74 | 250.02 | -1.47 |
European Union (EU) excluding UK | 2,711.93 | 2,739.95 | 1.03 | 226.05 | 242.56 | 7.30 |
South Asia | 1,192.75 | 1,348.93 | 13.09 | 79.48 | 127.05 | 59.85 |
ASEAN | 995.00 | 969.05 | -2.61 | 72.53 | 90.89 | 25.31 |
CIS Countries | 324.79 | 318.18 | -2.04 | 25.98 | 25.29 | -2.66 |
African Countries | 327.95 | 341.34 | 4.08 | 23.19 | 23.13 | -0.26 |
Middle East Countries (excl. Cyprus & Egypt) | 239.87 | 292.74 | 22.04 | 18.24 | 29.58 | 62.17 |
Others | 3,359.94 | 3,785.28 | 12.66 | 302.59 | 253.98 | -16.06 |
Total Merchandise Exports | 11,910.80 | 12,705.44 | 6.67 | 1,001.80 | 1,042.50 | 4.06 |
Sources: CBSL, Sri Lanka Customs