Total exports for December 2024 increased by 9.21-pct compared to 2023

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

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