Sri Lanka’s exports have surged past $1.3 billion in January 2025, marking a strong and promising start to the year! This remarkable growth reflects the resilience, innovation, and competitiveness of Sri Lankan industries, paving the way for sustained economic success.
The merchandise export performance in January 2025 amounted to US$ 1,004.82 million, recorded an 3.51 % increase compared to January 2024 as per the data released by the Sri Lanka Customs.
Compared to January 2024, agricultural exports shown a significant increase of 14.87 %, reaching US$ 258.93 million in January 2025. In addition, industrial exports experienced an increase of 0.08% during the month of January, increasing to US$ 745.89 million.
The estimated value of services exports for the month of January 2025 was US$ 329.37 Million, increasing 37.87 % over the corresponding Month of January 2024.
Consequently, total exports for January 2025, including both merchandise and services, were recorded as US$ 1,334.19 million.
Major Exports in January 2025
a) Products with Positive Growth (Increases)
Export earnings from Apparel & Textile increased by 21.08 % y-o-y to US $ 460.22 Mn in January 2025 compared to January 2024. Additionally, exports of Apparel & Textile to USA, UK and EU Region decreased by 26.89 %, 17.69 % and 26.18 % respectively in January 2025 compared to January 2024.
Export earnings from tea which made up 12% of merchandise exports, increased by 2.63 % y-o-y to US$ 112.7 Mn in January 2025 compared to January 2024. This increase is mainly due to the strong performance in the export of Tea Packets (29.83%).
Furthermore, volume of tea exports increased by 3.25 % in January 2025 compared to January 2024. Additionally, Tea exports to Iraq, Saudi Arabia and UAE markets, increased by 43.58 %, 13.8% and 414% respectively.
On monthly analysis, export earnings of Coconut based products increased by 12.04 % in January 2025 compared to January 2024. Moreover, export earnings of Coconut kernel products, Coconut shell products & Coconut Fiber products increased by 19.92 % and 42.68 % respectively in January 2025 compared to January 2024.
Export earnings from Coconut Oil, Coconut Cream and Liquid Coconut Milk which are categorized under the Coconut kernel products increased by 32.35 %, 50.69 % and 12.04 % respectively in January 2025 compared to January 2024.
Being the largest contributor to Coconut based sector, Coco Peat, Fiber Pith & Moulded products which are categorized under the Coconut fiber products, increased by 59.62 % to US$ 16.84 Mn in January 2025 in comparison to January 2024.
Earnings from Activated Carbon, which is categorized under the Coconut shell products increased by 13.2 % to US$ 14.58 Mn in January 2025 compared to January 2024.
Similarly, export earnings from Spices and Essential Oils increased by 32.94 % to US$ 38.99 Mn in January 2025 compared to January 2024, driven primarily by the strong performance of pepper (106.12%) and cloves (649.21%). Notably, pepper exports to India more than doubled in January 2025 compared to January 2024, while clove exports to Saudi Arabia reached USD 3.36 million during the same period.
Export earnings from Food & Beverages have increased by 23.27 % y-o-y to US$ 41.75 Million in January 2025, with the positive performance in exports of Processed food (29.0%).
Furthermore, the total export earnings from Diamonds, Gems & Jewellery increased by 28.23 % y-o-y to US$ 42.29 million in January 2025. Export earnings from all three sub-sectors experienced increases in January 2025: Diamonds (7.2 %), Gems (45.87 %), and Jewellery (59.38 %). Specifically, exports of Gems to the USA increased by 30.72 %, while exports of Diamonds to Switzerland and Israel increased by 34.4 % and 26.82%.
Export earnings of Boat building increased by 33.33 % to US$ 0.08 Mn in January 2025 compared to January 2024.
b) Products with Negative Growth (Decreases)
Moreover, Export earnings from Rubber and Rubber Finished products have decreased by 8.15 % y-o-y to US$ 75.06 Mn in January 2025, with the poor performance in exports of Pneumatic & Retreated Rubber Tyres & Tubes (-33.71%). Furthermore, exports of Pneumatic & Retreated Rubber Tyres & Tubes to USA decreased by 31.7% in January 2025 compared to January 2024.
In addition, export earnings from the Electrical & Electronics Components decreased by 8.9 % y-o-y to US$ 28.46 Mn in January 2025 with poor performance in exports of Insulated Wires and Cables (-28.09 %).
Export earnings from Seafood decreased by 23.24 % to US$ 17.67 Mn in January 2025 compared to January 2024. This decrease was mainly due to the poor performance in export of Fresh fish (-60.81 %) and Shrimps (-76.59 %). Furthermore, export earnings from Ornamental fish decreased by 28.96 % to US$ 1.57 Mn in January 2025 compared to January 2024.
Table 1 shows the comparison of Export performance during the month of January 2025 compared to January 2024.
Sri Lanka’s Export Performance in Major Markets
Among the top 15 export markets of Sri Lanka, United States, India, United Kingdom, Germany, Netherlands, France, China, Belgium, Switzerland, Iraq and Saudi Arabia have shown positive growth in January 2025 compared to January 2024.
The United States remained Sri Lanka’s largest export destination, accounting for 23% of total merchandise exports. Exports to the United States increased by 18.01% year-on-year to reach US$ 260.18 Mn in January 2025.
India emerged as Sri Lanka’s second-largest export market, with exports rising by 43.86% y-o-y to US$ 81.9 Mn in January 2025.
Additionally, exports to the United Kingdom increased by 17.82 % to US$ 79.55 Mn in January 2025 compared to the corresponding month in 2024.
Table 2 shows the comparison of Merchandise export performance of top 15 export markets during the month of January 2025 compared to January 2024.
Exports to FTA Partners (India & Pakistan)
In January 2025, exports to India & Pakistan constituted 8.8 % of the total merchandise exports, experienced a significant 42.35 % increase, reaching US$ 88.3 Mn, compared to January 2024. Furthermore, Exports to India increased by 43.86 % US$ 81.9 Mn in January 2025 while exports to Pakistan increased by 25.49 % respectively during the month of January 2025 compared to January 2024.
The increase in exports to India was driven by higher exports of Pepper (117.5 %) and positive performance of Pakistan was driven by increased exports of Other Base Metal Products and Article of stones.
Sri Lanka’s Export Performance in Regions
Table 3 shows the comparison of region wise exports during the month of January 2025 compared January 2024.
Exports to the European Union (EU) which accounts for 24% of Sri Lanka’s exports during the month of January 2025 increased by 16.34 % y-o-y to US$ 227.24 Mn.
Exports to the top five EU markets were recoded as; Germany US$ 53.87 Mn (increased by 9.18 %), Italy US$ 43.54 Mn (decreased by 8.13 %), Netherlands US$ 36.63 Mn (increased by 40.78 %), France US$ 22.16 Mn. (increased by 29.14 %) and Belgium US$ 19.64 Mn (increased by 24.94 %) during the month of January 2025 in comparison to the corresponding month in 2024.
Policy & Strategic Planning Division - 25.02.2025
