Sri Lanka’s export sector is gaining significant traction, recording a solid recovery in the first quarter of 2025 with earnings exceeding $4.2 billion—marking a 5.87% increase compared to the same period in 2024.
According to the Sri Lanka Export Development Board (EDB), this growth reflects continued resilience and rising global competitiveness across both merchandise and services exports.
March 2025 stood out with total exports surpassing $1.5 billion, up 6.24% year-on-year (YoY) and 11.76% higher than in February 2025. This sharp rise highlights the country’s growing momentum in international trade.
“This positive export performance underscores Sri Lanka’s growing prominence in global trade and reflects the effectiveness of ongoing efforts to enhance export competitiveness,” EDB Chairman and CEO Mangala Wijesinghe stated, commending the adaptability and resilience of local exporters.
Merchandise exports in March reached over $1.2 billion, led by strong contributions from gems and jewellery, and petroleum products. In the first three months of 2025, merchandise exports totaled over $3.3 billion, reflecting a 4.61% YoY growth.
Meanwhile, services exports for March were estimated at $291.12 million, up 7.79% from March 2024. In the first quarter, the sector earned $887.04 million—a robust 10.88% YoY increase. Key service categories such as ICT/BPM, logistics, construction, and financial services were major contributors to this growth, also generating high-value employment opportunities.
The apparel and textile sector performed strongly with a 11% YoY rise, generating over $1.3 billion in Q1. Agriculture exports also soared, with tea earnings up 5% to $370.95 million, coconut-based exports jumping 26.44% to $257.46 million, and spice and concentrate exports surging 71.43% to $119.04 million.
Transport and logistics services saw a 25% YoY increase in Q1 to $506.88 million, while ICT/BPM services earned $352.53 million, up 11%.
Looking ahead, Sri Lanka has set an ambitious $19 billion export revenue target for 2025—$14 billion from merchandise and $4.2 billion from services—aiming to reach $36 billion in total export earnings by 2030.
Among Sri Lanka’s top export destinations, the United States, United Kingdom, India, Germany, Netherlands, France, and China all showed positive growth. The U.S., which accounts for 23% of Sri Lanka’s exports, rose 13.83% in March 2025 and 9% for Q1, totaling $775.6 million.
Exports to the UK grew 10.71% in March and 4.74% in Q1, while exports to India and Pakistan under Free Trade Agreements climbed 24.02% YoY in March, totaling $95.89 million.
