• In 2024, Sri Lanka achieved its highest-ever export earnings of $16.17 billion, a 7.06% year-on-year growth, driven by $12.7 billion in merchandise exports (6.67% growth) and $3.46 billion in services exports (8.51% growth), with December contributing $1.36 billion (9.21% growth), led by apparel, tea, rubber, ICT/BPM, and logistics sectors.

The Export Development Board (EDB) announced a record-breaking performance in 2024, achieving its highest-ever export earnings of $16.17 billion, marking a 7.06% year-on-year (YoY) growth. This remarkable achievement was driven by $12.7 billion in merchandise exports, reflecting a 6.67% YoY growth, and $3.46 billion in service export revenue, which registered an 8.51% increase compared to 2023. EDB Chairman Mangala Wijesinghe noted that this performance surpasses the previous highs of $15.72 billion in 2018 and $15.65 billion in 2019, emphasizing the need to prioritize exports for sustainable economic growth. The provisional data from Sri Lanka Customs highlighted that December 2024 merchandise export earnings reached $1.04 billion, a 4.06% YoY growth, driven by apparel and textiles, tea, rubber-based products, coconut-based products, spices and concentrates, and food and beverages. Additionally, services exports for December 2024 were estimated at $322.92 million, marking a 29.96% YoY increase, with key contributions from ICT/BPM, construction, financial services, transport, and logistics. Total exports for December, combining merchandise and services, stood at $1.36 billion, reflecting a 9.21% growth compared to December 2023.

Export earnings hit all-time high of $ 16.17 b in 2024 | Daily FT