Sri Lanka’s merchandise exports hit an all-time high for the month of April – Lanka Business Online

Merchandise export revenue rose 11.87% year-on-year to $915.3 million in April 2022, the highest monthly value recorded for the month of April.

This was mainly due to increased income from the export of garments and textiles, coconut products and rubber products. In addition, a significant increase was recorded in exports of electrical and electronic components and in the seafood sector.

Sri Lanka’s merchandise exports hit an all-time high for the month of April at US$915.3 million this year, surpassing the previous record high of US$799 million set in 2021, Suresh D de Mel, Chairman – Export Development Board (EDB) mentioned.

It must also be emphasized that effective facilitation of fuel and energy supply to our exporters is imperative to maintain this momentum while calling for a rapid solution to the current crisis.

Additionally, we need to focus on niche markets while consolidating market share in the US and EU. Export product diversification must occur simultaneously so that we can create more billion dollar industries for Sri Lanka, which we lack today.

Monthly Merchandise Export Performance, 2020 – April 2022 in US$ Million

Table 1: Performance of merchandise exports

Values ​​in millions of US dollars

Merchandise exports Jan-Apr
2020
Jan-Apr
2021
Jan-Apr
2022
% Growth Apr
2021
Apr
2022
% Growth

Clothing and textiles

1,315.78

1,693.31

1,917.95

13.27

365.04

445.79

22.12

Tea

348.44

417.38

367.21

-12.02

79.26

80.44

1.49

rubber based

229.11

333.28

337.58

1.29

64.74

71.27

10.09

Coconut-based

164.81

250.49

279.44

11.56

55.76

70.73

26.85

Diamond, gemstones and jewelry

54.44

92.86

98.20

5.75

27.77

25.49

– 8.21

Electronics and electronic components

91.42

129.09

146.48

1:47 p.m.

27.06

34.38

27.05

Spices and essential oils

63.49

136.76

107.13

-21.67

22.46

9:55 p.m.

-4.05

Food and drinks

100.82

117.44

132.47

12.80

24.60

30.92

25.69

Seafood

63.26

75.55

88.94

17.72

19.19

21.22

10.58

ornamental fish

3.94

5.03

5.83

15.90

1.25

1.03

-17.60

Vegetables

7.92

7.83

7.98

1.92

1.87

1.74

-6.95

Fruits & Nuts

11.34

11.98

10.50

-12:35 p.m.

2.87

2.67

-6.97

Other export crops

24.77

19.00

23.28

22.53

4.84

8.28

71.07

Flowers & Foliage

4.37

4.74

4.94

4.22

1.02

0.95

-6.86

boat building

0.91

0.95

5.10

436.84

0.31

0.34

9.68

Oil products

114.41

23.42

65.07

177.84

1:46 p.m.

4:30

-68.05

Others

332.67

481.19

567.10

17.85

106.70

94.20

-11.72

Total merchandise exports 2,931.90
3,800.30
4,165.20
9.60
818.20
915.30
11.87

Table 2: Top 10 Export Destinations

Values ​​in millions of US dollars

Country Jan-Apr
2020
Jan-Apr
2021
Jan-Apr
2022
% Growth Apr
2021
Apr
2022
% Growth

1

United States

759.58

920.60

1,097.66

19.23

205.20

249.02

9:35 p.m.

2

UK

253.65

294.23

333.40

1:31 p.m.

68.34

84.14

23.12

3

India

184.90

247.35

282.48

2:20 p.m.

53.91

59.47

10.31

4

Germany

157.76

232.20

247.35

6.52

52.03

66.53

27.87

5

Italy

117.57

185.57

192.42

3.69

33.52

42.57

27:00

6

Belgium

78.70

105.47

95.03

-9.90

22.26

25.93

16.49

7

Netherlands

71.60

134.99

130.40

-3.40

28.21

27.71

-1.77

8

Canada

59.19

94.51

116.06

22.80

22.37

28.68

28.21

9

China

58.25

96.05

79.32

-17.42

18.81

14.72

-21.74

ten

United Arab Emirates

61.62

70.17

89.19

27.11

4:33 p.m.

3:00 p.m.

-8.14

Other markets

1,129.08

1,419.16

1,501.89

5.83

297.22

301.53

1.45

Total 2,931.90
3,800.30
4,165.20
9.60
818.20
915.30
11.87

Table 3: Export regions

Values ​​in millions of US dollars

Region Jan-Apr
2020
Jan-Apr
2021
Jan-Apr
2022
% Growth Apr
2021
Apr
2022
% Growth

United States

759.58

920.60

1097.66

19.23

205.20

249.02

9:35 p.m.

European Union (EU) excluding UK

613.11

925.95

956.94

3.35

192.43

230.91

20.00

South Asia

282.55

361.01

425.28

17.80

78.32

86.95

11.02

Middle Eastern countries (except Cyprus and Egypt)

216.71

243.93

282.45

15.79

49.17

56.25

2:40 p.m.

African countries

65.85

100.05

104.11

4.06

25.68

18.64

-27.41

ASEAN countries

101.7

89.58

94.49

5.48

26.19

23.74

-9.35

CIS countries

79.97

82.56

67.13

-18.69

16.03

11.77

-26.58

Others

812.43

1,076.62

1,137.14

5.62

225.18

238.02

5.70

Total merchandise exports 2,931.90 3,800.30 4,165.20 9.60 818.20 915.30 11.87

Service export

The estimated value of services exports for the period January to April 2022 was $1,188.8 million, an increase of 96.2% compared to the corresponding period of 2021. Services exports estimated by EDB include ICT/BPM, construction, financial services and transport and logistics. .