By: Isuru Parakrama
June 26, Colombo (LNW): Sri Lanka’s export performance has continued its upward trajectory during the opening five months of 2025, reaching a cumulative value of US$ 6.93 billion.
This marks a healthy 7.14 per cent increase compared to the corresponding period in 2024, underscoring a sustained recovery and growth momentum across both goods and services sectors, according to figures released by the nation’s export authority.
The month of May 2025 alone saw export revenues touch US$ 1.39 billion, reflecting a year-on-year improvement of 6.35 per cent.
This positive development is attributed to the island’s ongoing efforts to diversify its export markets, improve product value chains, and enhance its overall global competitiveness.
Goods exports for May, based on preliminary data from customs authorities, reached US$ 1.03 billion, recording a modest 1.7 per cent rise from May 2024. Over the January to May period, merchandise exports amounted to US$ 5.34 billion—representing a 5.46 per cent increase when compared to the same period last year.
On the services front, Sri Lanka has shown even stronger performance. Export earnings from services in May were estimated at US$ 358.14 million. Over the five-month period, services exports have surged by 13.2 per cent, bringing the cumulative total to approximately US$ 1.59 billion.
This reflects the growing prominence of Sri Lanka’s knowledge and digital economy, including IT, business process outsourcing, and related professional services, as significant contributors to the country’s export landscape.
The tea industry, a traditional stronghold of Sri Lanka’s export portfolio, also showed encouraging signs of recovery. Tea accounted for 12.8 per cent of total merchandise exports in May 2025, with earnings rising 14.58 per cent year-on-year to reach US$ 131.81 million.
This growth was especially driven by surging demand in key Middle Eastern markets. Notably, shipments to Libya soared by 236.84 per cent, with exports to Iran and Iraq jumping by 123.31 per cent and 53.74 per cent, respectively.
The Diamonds, Gems & Jewellery segment also experienced an upward trend, with May’s export value estimated at US$ 31.4 million—a 5.53 per cent increase compared to the same month last year.
However, not all sectors performed uniformly. Apparel and textile exports, which traditionally dominate the goods export segment, declined slightly by 0.38 per cent, reaching US$ 388.81 million in May. Similarly, the rubber sector reported a downturn, with a 9.33 per cent fall in export revenue to US$ 73.6 million. Seafood exports faced the sharpest decline, plummeting by 22.11 per cent to US$ 13.56 million in the same month.
