Business

Sri Lanka’s Export Performance up in August 2022

Published

4 years ago

2022/10/2

Earnings from the merchandise exports increased by 10.24 % y-o-y to US$ 1,213.7 Mn in August 2022 according to Customs data mainly due to the increase in earnings from export of Apparel & Textiles. The Export Development Board said last week.

EDB Chairman/CEO, Suresh D. de Mel, congratulates the exporters for their great effort to increase foreign exchange earnings for the country during this critical period and also thanked the staff of the EDB and other supporting agencies for their untiring support to facilitate exports under highly disruptive circumstances.

Monthly Merchandize Export Performance, 2020 – August 2022 in Millions of US$

Sources: Central Bank of Sri Lanka, Sri Lanka Customs & Sri Lanka Export Development Board

Major Exports in August 2022

Major product sectors except coconut based products (down 3.7%) performed well led by Apparel & Textiles, Tea, Rubber based products, Electrical & Electronic components, Spices & Concentrates Diamonds, Gems & Jewellery, Food & Beverages, Seafood & Ornamental fish as shown in the table 1 below, recorded increased exports in August 2022.Exports of Apparel & Textiles increased by 15.03% y-o-y to US$ 565.37 Mn in August 2022. The increase was driven by apparel.

Export earnings from tea in August 2022 which made up 11% of merchandise exports, increased by 6.52% y-o-y to US$ 124.41 Mn. This was mainly due to the higher export of packeted tea s (11.42%). Export earnings from Rubber and Rubber Finished products have increased by 8.11% y-o-y to $ 99.83 million in August 2022, with better performance in exports of pneumatic & retreaded rubber tyres & tubes (24.03%).

Export earnings from the Electrical & Electronics Components increased by 14.03 % y-o-y to US$ 41.86 Mn in August 2022 with strong performance in exports of insulated wires & cables (8.49%) and other electrical & eectronic products (24.41%).Export earnings from seafood increased by 37.04% to US$ 25.53 Mn in August 2022 compared to August 2021. Except shrimps & lobsters, export earnings from frozen fish and fresh fish increased by 69.88% and 56.39% respectively in August 2022.Further, export earnings from Ornamental fish increased by 140.63% to US$ 2.31 Mn in August 2022 compared to August 2021.

In addition, export earnings from Spices and Essential Oils increased by 0.8% to US$ 40.11 Mn in the month of August 2022 compared to month of August 2021 due to the better performance in export of Cinnamon (24.84%) and essential oils (2.31%). On monthly analysis, except shell products export earnings of kernel products and fiber products categorized under the Coconut based products decreased by 10.79% and 7.55% respectively in August 2022 compared to August 2021. Major Exports during the period of January – August 2022

For the period of January – August 2022, merchandise exports increased by 12.04% to US$ 8,853. Million compared to the corresponding period of 2021. Major product sectors except Tea, Rubber-based products and Spices & Concentrates; Apparel & Textiles, Coconut based products, Electronics & Electronic Components, Gems & Jewellery, Food & Beverages and Seafood as shown in the table 1 below, recorded increased exports.

Apparel & Textile exports increased by 19.3% to US$ 4,082.81 Mn during the period of January to August 2022 compared to the same period of 2021. Except Made-up Clothing Accessories (-9.8%), Knitted fabrics (-1.02%), Yarn (-15.61%) and Textile Floor Coverings (-14.35%); exports of other sub categories of Apparel & Textiles sector increased.

Export earnings from Rubber & Rubber finished products slightly decreased by 0.46% to US$ 705.7 Mn in January – August 2022 compared with the same period of 2021 attributed to lower exports of Industrial & surgical Gloves (-15.79%). However, exports of Pneumatic & Retreated Rubber Tyres & Tubes increased by 9.42% during the period of January to August 2022 compared with the same period of 2021.

Meanwhile earnings from export of Electrical and Electronic Components (EEC) increased by 11.87 % to US$ 311.17 Mn in the period of January to August 2022 compared to the corresponding period of 2021. Export of Insulated wires increased by 15.83% in during the period of January to August 2022 to US$ 54.65 Mn compared with the corresponding period of previous year. In addition, export of Printed Circuits, Switches, Boards & Panels, Electrical Transformers and Other Electrical & Electronic Products increased by 40.65%, 3.89%, 10.89% and 11.77 % respectively during the period of January to August 2022 compared with the corresponding period of previous year.

Export earnings from Seafood increased by 13.83% to US$ 188.36 Mn in the period of January to August 2022 compared to year 2021 due to the better performance in all the sub categories except Lobsters; Frozen Fish (4.37%), Fresh Fish (31.47%) and Prawns (47.75%).In addition, earnings from export of ornamental fish increased by 9.76% to US$ 13.83 Mn during the period of January to August 2022 compared to year 2022.

For the period of January to August 2022, export earnings from Coconut & Coconut based products expanded by 6.37% to US$ 572.71 Mn. Earnings from all the major categories of Coconut based products increased during the period of January – August 2022 compared with the corresponding period of 2021 due to the improved performance in export of Liquid Coconut Milk, Cocopeat, Brooms & Brushes, Mattress Fiber, Activated Carbon, Coconut Oil and Desiccated Coconut.

However, export earnings from Tea decreased by 7.16% to US$ 819.31 Mn during the period of January to August 2022 compared with the corresponding period of 2021. Exports of all the sub categories of tea sector except Tea Bags; Tea packets (-7.04%), Bulk Tea (-7.16%,), Instant Tea (-24.56%) and Green Tea (-31.15%) decreased during the period of January to August 2022 compared with the same period of 2021.

Export earnings from Spices and Essential Oils decreased by 17.3% to US$ 234.39 Mn in the period of January to August 2022 compared to year 2021 due to the poor performance in all the sub categories; Cinnamon (-3.88%), pepper (-19.29%), cloves (-58.41%), nutmeg & mace (-17.95%), cardamom (-56.52%) and essential oils (-25.53%).

Sri Lanka’s Export Performance in Major Markets

Strong Export Growth recorded for top 10 export markets in the period of January to August 2022. The single largest export destination of United States of America recorded US$ 2,308.75 Mn worth of exports in the period of January to August 2022 – a significant year on year increase of 21.19 % in comparison to US$ 1,905.02 Mn recorded in 2021.

Exports to United Kingdom as the second largest trading partner recorded an increase of 12.91 % to US$ 682.56 Mn during the period of January to August 2022 compared with the corresponding period of previous year.

Exports to FTA Partners

During the period of January to August 2022, exports to Free Trade Agreement (FTA) partners accounted for 7.2% of total merchandise exports increased by 10.11 % to US$ 623.17 Mn.

Although Exports to India increased by 12.77 % y-o-y to US$ 570.46 Mn, exports to Pakistan decreased by 12.28% to US$ 60.08 Mn during the period of January to August 2022 compared with the corresponding period of 2021.

Increased Exports to India is mainly supported by increased exports of Animal Feed (16.42%), Arecanuts (67.28%), Woven fabrics(96.17%) and Wood pulp (35.39%) in January – August 2022.

Sri Lanka’s Export Performance in Regions

On a region wise comparison exports to all regions except Asean and CIS countries increased during the period of January to August 2022 compared with the corresponding period of 2021.

During the period of January to August 2022, breakdown of exports to the top five EU markets which accounted for 80% of Sri Lanka’s total exports to the EU were; Germany US$ 514.75 Mn (increased by 6.93 %), Italy US$ 414.26 Mn (increased by 10.95 %), Netherlands US$ 274.28 Mn (increased by 1.53 %), Belgium US$ 215.49 Mn (increased by 0.27 %) and France US$ 177.78 Mn. (increased by 16.4 %).

Export of Services

The estimated value of services exports for the period of Jan-August 2022 was 1,310.05 Million dollars, increasing 5.58 % over the corresponding period of 2021. The services exports estimated by EDB consists of ICT/BPM, Construction, Financial services and Transport & Logistics.

Policy & Strategic Planning Division
16.09.2022

All News Advertisement

Business

Mattala Wildlife Unit to boost revenue, tourism and investor confidence

Published

4 hours ago

2026/04/29

Sahan Weerasooriya

Dignitaries at the MOU signing ceremony.

The launch of a dedicated wildlife unit at Mattala Rajapaksa International Airport is expected to deliver significant economic benefits by improving aviation safety, strengthening eco-tourism and enhancing Sri Lanka’s investment appeal, Wildlife Conservation Department Director General Ranjan Marasinghe said.

Speaking at the signing of a Memorandum of Understanding between the Department of Wildlife Conservation and Airport and Aviation Services (Sri Lanka) Limited, Marasinghe said the initiative links conservation directly with national development and revenue generation.

“This is more than an administrative step—it is a forward-looking initiative that aligns conservation, aviation safety and national development in a single strategic effort,” he said.

He noted that wildlife management at airports is globally recognised as essential for reducing bird strikes and wildlife-related disruptions, which can lead to costly repairs, delays and operational losses.

By proactively managing such risks, the Mattala Wildlife Unit is expected to lower potential costs for airlines and airport operators while improving efficiency and confidence among carriers considering future operations.

Marasinghe said the airport’s proximity to premier tourism destinations such as Yala National Park and Udawalawe National Park, together with marine tourism opportunities including Blue Whale watching, gives Mattala a strong commercial advantage.

“This convergence of aviation and wildlife tourism creates an extraordinary opportunity,” he said, adding that the airport has the potential to become a major gateway for high-value eco-tourism.

Industry observers note that wildlife tourists generally spend more on guided safaris, hotels, transport and local experiences, generating stronger foreign exchange earnings and employment opportunities for surrounding communities.

Marasinghe said integrating environmental standards into airport operations would also improve Sri Lanka’s global image at a time when investors and international travellers increasingly value sustainability.

“By integrating environmental considerations into airport operations, we position Sri Lanka more favourably on the global stage, demonstrating that we are a nation committed to sustainability, responsibility and innovation,” he said.

He expressed hope that the Mattala model would be replicated at other international airports, creating long-term savings, stronger environmental governance and wider economic returns.

The Director General said the Department of Wildlife Conservation remains committed to supporting the national economy through new and meaningful avenues while protecting Sri Lanka’s natural assets.

“Conservation must also contribute to development,” he said, stressing that protecting biodiversity and generating growth can go hand in hand.

By Ifham Nizam

Business

Aitken Spence Elevators and CINEC usher in a new era for Sri Lanka’s elevator industry

Published

4 hours ago

2026/04/29

Sahan Weerasooriya

Aitken Spence Elevators, in collaboration with CINEC Campus, recently held the Certificate Awarding Ceremony for the latest batch of trainees of the Elevator Serviceman Course at the Elevator Training Centre (ETC). The graduates were awarded their NVQ Level 3 certifications, marking a significant milestone in their professional journey within Sri Lanka’s vertical transportation industry.

The certification programme was developed in partnership with the National Apprentice and Industrial Training Authority (NAITA) and the Ministry of Vocational Training & Skills Development, ensuring trainees received industry-recognised qualifications, alongside strong practical competencies. The ceremony was attended by directors of both Aitken Spence and CINEC Campus, as well as staff members, lecturers, and invited guests of the graduating students

Anuka Prashan Pieris was recognised as the Most Outstanding Student of the batch in appreciation of his exceptional performance and commitment throughout the programme. The Elevator Training Centre plays a vital role in addressing the growing demand for skilled elevator service technicians through structured training and hands-on learning. The facility features Sri Lanka’s first Elevator Training Tower, offering trainees practical exposure aligned with both local and international standards.

All graduates of the current batch have already commenced their careers as technicians and supervisors at Aitken Spence Elevators. Their seamless transition into the workforce reflects the programme’s strong emphasis on developing job-ready professionals capable of contributing effectively from day one.

Business

Sterling Steels wins Merit Award at SLIA Annual Product Awards 2026

Published

4 hours ago

2026/04/29

Sahan Weerasooriya

COLOMBO, SRI LANKA– Sterling Steels (Pvt) Ltd, a premier manufacturer of high-quality globally renowned steel roofing & cladding, announced it has been honored with a prestigious Merit Award at the Sri Lanka Institute of Architects (SLIA) Annual Product Awards 2026. The national recognition was awarded in the highly competitive Zinc-Aluminium Coated Profile Steel Sheet category, underscoring the company’s dedication to excellence, innovation, and superior quality in the Sri Lankan construction industry.

The award was presented during a grand ceremony held at the esteemed Nelum Pokuna Theatre, a key event in the nation’s architectural and construction calendar. The SLIA Annual Product Awards are widely regarded as a benchmark for quality and design excellence, with products rigorously evaluated by a panel of distinguished architects and industry experts. Receiving this Merit Award positions Sterling Steels among the top-tier suppliers of building materials in the country.