The merchandise export performance in February 2024 amounted to US$ 983.7 million, recorded a modest increase of 0.17 % compared to February 2023. Furthermore, export performance in February 2024 increased by 1.3% compared to the preceding month, January 2024.
Compared to February 2023, agricultural exports shown a significant increase of 11.82 %, reaching US$ 255.76 million in February 2024. However, industrial exports experienced a decline of 3.36 % during the same period, dropping to US$ 727.94 million.
Table 1: Comparison of Product-wise Merchandise Export Performance
Values in US$ Mns
| Exports of Goods | Jan-Feb 2023 | Jan-Feb 2023 | % Growth (23-24) | Feb 2023 | Feb 2024 | % Growth (23-24) |
| Apparel & Textile | 853.28 | 801.42 | -6.08 | 430.17 | 421.31 | -2.06 |
| Tea | 204.13 | 229.92 | 12.63 | 104.57 | 127.74 | 22.16 |
| Rubber-based | 152.45 | 170.46 | 11.81 | 76.58 | 88.73 | 15.87 |
| Coconut-based | 102.72 | 124.51 | 21.21 | 54.51 | 68.23 | 25.17 |
| Diamond, Gems & Jewelery | 69.09 | 70.58 | 2.16 | 22.58 | 37.61 | 66.56 |
| Electronics & Electronic Components | 81.29 | 66.40 | -18.32 | 43.01 | 35.16 | -18.25 |
| Spices and Concentrates | 68.98 | 52.32 | -24.15 | 34.48 | 22.99 | -33.32 |
| Processed Food & Beverages | 63.80 | 76.90 | 20.53 | 31.44 | 43.00 | 36.77 |
| Seafood | 40.94 | 43.70 | 6.74 | 19.99 | 20.68 | 3.45 |
| Ornamental Fish | 4.20 | 3.84 | -8.57 | 2.00 | 1.64 | -18.00 |
| Vegetables | 4.75 | 4.05 | -14.74 | 2.28 | 2.05 | -10.09 |
| Fruits | 6.56 | 6.61 | 0.76 | 3.14 | 3.12 | -0.64 |
| Other Export Crops | 4.68 | 9.97 | 113.03 | 2.54 | 5.87 | 131.10 |
| Flowers & Foliage | 2.49 | 2.27 | -8.84 | 1.34 | 1.10 | -17.91 |
| Boat Building | 0.40 | 0.08 | -80.00 | 0.33 | 0.02 | -93.94 |
| Petroleum Products | 102.26 | 30.51 | -70.16 | 24.42 | 9.06 | -62.90 |
| Others | 198.18 | 260.85 | 31.62 | 128.62 | 95.39 | -25.84 |
| Total Merchandize Exports | 1,960.20 | 1,954.39 | -0.30 | 982.0 | 983.7 | 0.17 |
Sources: CBSL, SL Customs
Table 2: Comparison of Merchandise Export Performance of Top 15 Export Destinations
Values in US$ Mns
|
| Destination | Jan-Feb 2023 | Jan-Feb 2023 | % Growth (23-24) | Feb 2023 | Feb 2024 | % Growth (23-24) |
| 1 | United States | 485.83 | 470.07 | -3.24 | 231.06 | 249.60 | 8.02 |
| 2 | United Kingdom | 146.25 | 150.45 | 2.87 | 68.83 | 82.93 | 20.49 |
| 3 | India | 139.72 | 112.64 | -19.38 | 70.13 | 55.71 | -20.56 |
| 4 | Italy | 100.28 | 100.53 | 0.25 | 54.07 | 50.96 | -5.75 |
| 5 | Germany | 98.61 | 102.01 | 3.45 | 50.49 | 52.68 | 4.34 |
| 6 | United Arab Emirates | 98.95 | 59.44 | -39.93 | 27.60 | 29.60 | 7.25 |
| 7 | Netherlands | 54.10 | 55.64 | 2.85 | 27.55 | 29.62 | 7.51 |
| 8 | France | 35.22 | 38.63 | 9.68 | 17.33 | 21.47 | 23.89 |
| 9 | Canada | 54.79 | 51.73 | -5.58 | 35.23 | 21.28 | -39.60 |
| 10 | China | 40.83 | 38.42 | -5.90 | 21.47 | 20.01 | -6.80 |
| 11 | Australia | 35.50 | 39.38 | 10.93 | 17.68 | 19.63 | 11.03 |
| 12 | Belgium | 37.36 | 35.11 | -6.02 | 17.79 | 19.40 | 9.05 |
| 13 | Turkey | 33.13 | 21.56 | -34.92 | 17.11 | 10.10 | -40.97 |
| 14 | Japan | 29.73 | 30.51 | 2.62 | 14.36 | 17.60 | 22.56 |
| 15 | Switzerland | 26.52 | 26.52 | 0.00 | 11.38 | 13.12 | 15.29 |
|
| Others | 543.38 | 621.75 | 14.42 | 299.92 | 289.99 | -3.31 |
|
| Total | 1,960.20 | 1,954.39 | -0.30 | 982.0 | 983.7 | 0.17 |
Sources: CBSL, SL Customs
Table 3: Comparison of Region wise Merchandise Export Performance
Values in US$ Mns
| Region | Jan-Feb 2023 | Jan-Feb 2023 | % Growth (23-24) | Feb 2023 | Feb 2024 | % Growth (23-24) |
| United States | 485.83 | 470.07 | -3.24 | 231.06 | 249.60 | 8.02 |
| European Union (EU) excluding UK | 417.71 | 422.97 | 1.26 | 215.48 | 227.64 | 5.64 |
| South Asia | 200.46 | 177.40 | -11.50 | 103.95 | 84.45 | -18.76 |
| ASEAN | 198.91 | 175.05 | -12.00 | 77.45 | 93.68 | 20.96 |
| CIS Countries | 59.18 | 39.59 | -33.10 | 26.11 | 21.65 | -17.08 |
| African Countries | 55.91 | 48.82 | -12.68 | 28.42 | 23.87 | -16.01 |
| Middle East Countries (excl. Cyprus & Egypt) | 39.47 | 42.00 | 6.41 | 18.27 | 22.90 | 25.34 |
| Others | 502.73 | 578.49 | 15.07 | 281.26 | 259.91 | -7.59 |
| Total Merchandise Exports | 1,960.20 | 1,954.39 | -0.30 | 982.0 | 983.7 | 0.17 |