Export earnings near US $ 10bn

Services and coconut products lead recovery

• Total goods and services exports reached US $ 9.99bn, up 7.79% YoY
• Merchandise exports accounted for US $ 7.8bn of cumulative earnings, up 7.2% YoY
• Services exports contributed US $ 2.19bn, a 9.9% increase
• In July alone, total exports reached US $ 1.64bn, a 12.7% increase

Sri Lanka’s export earnings are approaching the US $ 10 billion mark in the first seven months of 2025, with total goods and services exports reaching US $ 9.99 billion, up 7.8 percent from the same period last year. 
The performance reflects a broad-based recovery across key sectors, supported by a stronger regional demand and rising value-added exports.
Merchandise exports accounted for US $ 7.8 billion of cumulative earnings, up 7.2 percent year-on-year (YoY), driven by tea, coconut-based products, seafood and apparel.
Tea exports rose 8.9 percent to US $ 884 million, with packeted and instant tea performing particularly well, while coconut-based products surged 37 percent to US $ 661 million on a robust global demand and higher value addition. 
Apparel and textiles, Sri Lanka’s largest merchandise export, recorded US $ 3.08 billion in earnings, up 8.2 percent, supported by shipments to the US, UK and European Union (EU) markets.
Services exports contributed US $ 2.19 billion, a 9.9 percent increase over the same period in 2024. ICT/BPM and logistics services led the gains, rising 7.2 percent and 21.2 percent, respectively. The growth highlights the sector’s increasing importance in Sri Lanka’s export portfolio and its role in creating high-value employment opportunities.
The Export Development Board (EDB) noted that the encouraging growth highlights Sri Lanka’s increasing integration into global trade and the success of the continued efforts to strengthen export competitiveness while diversifying market opportunities.
“It is encouraging to see exports surpassing US $ 1.6 billion in July and reaching nearly US $ 10 billion in the first seven months. This reflects the resilience of our exporters amidst the global challenges. While we celebrate this progress, we remain cautious of uncertainties ahead. 
With continued efforts to enhance competitiveness and diversify markets, we are confident of achieving the 2025 export target,” said EDB Chairman and CEO Mangala Wijesinghe.
In July alone, total exports reached US $ 1.64 billion, a 12.7 percent increase from July 2024. Merchandise exports rose 15.4 percent to US $ 1.3 billion, led by tea, which climbed 13.1 percent to US $ 141 million and coconut products, up 63.8 percent on a strong demand for kernel, fibre and shell-based products. Seafood exports surged 78 percent to US $ 39.3 million, while apparel and textiles rose 8.2 percent to US $ 479.9 million. Diamonds, gems and jewellery (estimated) grew 18.5 percent and food and beverages jumped 64.5 percent, led by processed foods.
The US retained its top spot, India overtook the UK as the second-largest destination, with exports rising nearly 29 percent in July and 27 percent cumulatively and the EU posted a 16 percent growth over the first seven months. Exports to Africa rose 53 percent in July, while the ASEAN shipments increased 2.7 percent.
Some segments, however, showed weakness, including spices and essential oils, which fell 39.8 percent and rubber products and electrical components, which posted modest declines.