Export target at risk unless reforms accelerate: NCE

Sri Lanka’s ambitious plan to more than double export earnings to US$ 36 billion by 2030 risks falling short unless long-standing regulatory and operational bottlenecks are addressed, exporters warned.

According to the National Chamber of Exporters (NCE), achieving the target will require more than identifying priority sectors and setting growth objectives.

Earlier this month the government rolled out the National Export Development Plan (NEDP) 2026-2030, which aims to raise merchandise exports to US$ 28 billion and services exports to more than US$ 8 billion by the end of the decade. Meeting that target would require annual export growth of around 10-12 percent.

“Many of these concerns have been raised repeatedly with relevant authorities over a number of years, yet remain unresolved despite industry consultations, stakeholder discussions and multiple policy engagements,” the NCE said.

Sri Lanka’s exports of goods and services reached US$ 4.31 billion in the first quarter of 2026, up 1.59 percent from a year earlier. While exporters welcomed the continued growth, they warned that delays, additional costs and policy uncertainties continue to undermine competitiveness.

A recurring concern raised across several industries is the slow pace of administrative reform. Exporters cited delays in approvals, manual documentation processes, inconsistent regulatory practices and the absence of fully integrated digital systems as obstacles to growth.

According to the NCE, exporters continue to face delays in customs clearance, documentation amendments and regulatory approvals, while operational inefficiencies at ports and terminals increase costs and affect shipment schedules.

The logistics sector, which the government hopes will play a larger role in the country’s export strategy, recorded a 23.68 percent decline during the January-April period compared with a year earlier.

Exporters have also highlighted concerns over policy certainty in sectors targeted for expansion under the NEDP. In the minerals industry, businesses are seeking changes to royalty calculations and longer licence periods to encourage investment and value addition, while manufacturers have raised concerns over import-related restrictions and regulatory procedures that affect production planning.

Further, Sri Lanka’s participation in global value chains stood at 35.27 percent in 2022, while only 41.8 percent of export relationships established in 2020 remained active through 2024.

The Chamber asserted that these structural weaknesses could limit the country’s ability to achieve the export growth rates envisioned under the NEDP.

“Timely implementation of the discussed solutions will be vital if Sri Lanka is to achieve its export growth targets and expand its position in international markets,” the NCE said.