Sri Lanka’s exports expected to surpass USD 12bn by end 2021; records USD 1.2bn in November

Sri Lanka’s merchandise exports increased by 55.11% to US$ 1,215.6 Million in November 2021 compared to November 2020 as per the data released by the Sri Lanka Customs. Exports maintained above one billion dollars for the fifth consecutive month in November this year.

EDB Chairman & CE, Suresh D. de Mel said, “Sri Lanka’s exports continued its remarkable achievement in November 2021, registering another USD one billion monthly revenue. The growth in exports was not only due to the effective prevention and control of the pandemic in Sri Lanka, but the commitment of exporter community to support the national economy by bringing in the much-needed foreign currency. I commend the exporters for their resilience and commitment at this time.

Table 1: Merchandise Export Performance

                                                                                                            Values in US$ Mns

Table 2: Top 10 Export Destinations

Table 3: Export Regions

Export of Services

The estimated value of services exports for the period of January to November 2021 was 2,710.92 Million dollars, increasing 27.6 % over the corresponding period of 2020. The services exports estimated by EDB consists of ICT/BPM, Construction, Financial services and Transport & Logistics.

Revised Export Target & Achievement

The revised export target of the Export Development Board for 2021 is US$ 15.72 billion and of that we expect US$ 12.14 billion from merchandise exports and US$ 3.58 billion from services exports. During the period January to November 2021, earnings from exports recorded US$ 13.8 billion including the estimated services data for July to November and 88 % achieved from the revised export target.

Further, earnings from Merchandise exports and services exports achieved 91.59 % and 75.64% respectively during the period of January to November 2021.