Sri Lanka’s merchandise exports increased by 2.18 % to US$ 1,027.2 Million in July 2023 compared to June 2023 as per the provisional data released by the Sri Lanka Customs. However, it is a 11.79 % decrease when compared to the value recorded in July 2022.
This declining of merchandise exports is due to the reduced demand shown in export products specially in Apparel & Textiles, Rubber & Rubber based products and Coconut & Coconut based products.
The Figure 1 shows the comparison of Monthly Merchandise Export Performance 2020 - July 2023.
Figure 1: Monthly Merchandise Export Performance 2020- July, 2023
Major Exports in July 2023
| Exports of Goods | Jan-July 2022 | Jan-July 2023 | % Growth (22-23) | July 2022 | July 2023 | % Growth (22-23) |
| Apparel & Textile | 3,517.44 | 2,880.61 | -18.10 | 550.05 | 427.48 | -22.28 |
| Tea | 694.90 | 750.72 | 8.03 | 117.52 | 115.20 | -1.97 |
| Rubber-based | 605.85 | 529.08 | -12.67 | 89.24 | 79.31 | -11.13 |
| Coconut-based | 501.47 | 402.80 | -19.68 | 67.15 | 63.34 | -5.67 |
| Diamond, Gems & Jewelery | 192.28 | 228.93 | 19.06 | 36.39 | 27.09 | -25.56 |
| Electronics & Electronic Components | 269.63 | 296.58 | 10.00 | 41.25 | 40.82 | -1.04 |
| Spices and Concentrates | 194.26 | 216.73 | 11.57 | 33.91 | 37.53 | 10.68 |
| Processed Food & Beverages | 248.01 | 245.69 | -0.94 | 37.85 | 36.21 | -4.33 |
| Seafood | 162.82 | 149.63 | -8.10 | 20.65 | 17.25 | -16.46 |
| Ornamental Fish | 11.52 | 14.89 | 29.25 | 1.36 | 1.80 | 32.35 |
| Vegetables | 15.12 | 16.82 | 11.24 | 1.90 | 2.08 | 9.47 |
| Fruits | 19.93 | 25.21 | 26.49 | 3.23 | 3.63 | 12.38 |
| Other Export Crops | 51.48 | 50.29 | -2.31 | 8.46 | 12.32 | 45.63 |
| Flowers & Foliage | 8.56 | 8.93 | 4.32 | 0.83 | 1.04 | 25.30 |
| Boat Building | 5.88 | 12.72 | 116.33 | 0.33 | 0.11 | -66.67 |
| Petroleum Products | 85.25 | 244.03 | 186.25 | 4.04 | 54.25 | 1242.82 |
| Others | 1102.35 | 824.68 | -25.19 | 150.44 | 107.78 | -28.36 |
| Total Merchandize Exports | 7,686.75 | 6,898.34 | -10.26 | 1,164.60 | 1,027.24 | -11.79 |
Sources: CBSL, SL Customs
Sri Lanka’s Export Performance in Major Markets
|
| Destination | Jan-July 2022 | Jan-July 2023 | % Growth (22-23) | July 2022 | July 2023 | % Growth (22-23) |
| 1 | United States | 1,988.43 | 1,620.57 | -18.50 | 300.71 | 253.79 | -15.60 |
| 2 | United Kingdom | 602.01 | 498.25 | -17.24 | 95.11 | 73.42 | -22.81 |
| 3 | India | 500.75 | 493.87 | -1.37 | 63.01 | 81.28 | 29.00 |
| 4 | Germany | 450.51 | 349.90 | -22.33 | 66.57 | 50.46 | -24.20 |
| 5 | Italy | 359.21 | 381.23 | 6.13 | 63.88 | 59.02 | -7.61 |
| 6 | Netherlands | 233.88 | 197.11 | -15.72 | 30.86 | 27.55 | -10.73 |
| 7 | Canada | 214.00 | 179.74 | -16.01 | 33.79 | 25.37 | -24.92 |
| 8 | UAE | 161.57 | 221.57 | 37.14 | 26.35 | 37.88 | 43.76 |
| 9 | Belgium | 186.35 | 132.51 | -28.89 | 29.96 | 20.89 | -30.27 |
| 10 | France | 153.79 | 152.25 | -1.00 | 22.91 | 25.03 | 9.25 |
| 11 | Australia | 143.17 | 130.61 | -8.77 | 23.21 | 17.09 | -26.37 |
| 12 | China | 140.98 | 141.70 | 0.51 | 21.49 | 19.22 | -10.56 |
| 13 | Japan | 121.21 | 114.90 | -5.21 | 20.03 | 13.97 | -30.25 |
| 14 | Bangladesh | 129.33 | 110.73 | -14.38 | 15.52 | 11.79 | -24.03 |
| 15 | Mexico | 99.30 | 100.54 | 1.25 | 17.11 | 14.76 | -13.73 |
|
| Others | 2,202.26 | 2,072.86 | -5.88 | 334.09 | 295.72 | -11.48 |
|
| Total | 7,686.75 | 6,898.34 | -10.26 | 1,164.60 | 1,027.24 | -11.79 |
Sri Lanka’s Export Performance in Regions
| Region | Jan-July 2022 | Jan-July 2023 | % Growth (22-23) | July 2022 | July 2023 | % Growth (22-23) |
| United States | 1,988.43 | 1,620.57 | -18.50 | 300.71 | 253.79 | -15.60 |
| European Union (EU) excluding UK | 1,769.01 | 1,542.68 | -12.79 | 274.96 | 230.47 | -16.18 |
| South Asia | 737.75 | 709.05 | -3.89 | 91.99 | 108.45 | 17.89 |
| ASEAN | 525.47 | 597.08 | 13.63 | 94.95 | 95.29 | 0.36 |
| CIS Countries | 184.39 | 190.43 | 3.28 | 20.92 | 27.91 | 33.41 |
| African Countries | 169.58 | 184.66 | 8.89 | 25.69 | 29.88 | 16.31 |
| Middle East Countries (excl. Cyprus & Egypt) | 123.18 | 146.15 | 18.65 | 23.95 | 20.36 | -14.99 |
| Others | 2,188.94 | 1,907.72 | -12.85 | 331.43 | 261.09 | -21.22 |
| Total Merchandise Exports | 7,686.75 | 6,898.34 | -10.26 | 1,164.60 | 1,027.24 | -11.79 |
Export of Services
The estimated value of services exports for the period of January to July 2023 was US$ 1,228.17 Mn, increasing 17.32 % over the corresponding period of 2022. The services exports estimated by EDB consists of ICT/BPM, Construction, Financial services and Transport & Logistics.