Sri Lanka's Apex Organisation for Export Promotion
The total exports (Merchandise & Service) for the month of April 2024 was recorded as US$ 1,114.22 Million increasing 1.25 % over the corresponding period of 2023.
In a landmark move aimed at propelling Sri Lanka’s export sector to new heights, the Sri Lanka Export Development Board (SLEDB) and People’s Bank have entered into a strategic partnership.
The merchandise export performance in March 2024 amounted to US$ 1,138.9 million, recorded an increase of 9.77 % compared to March 2023. Furthermore, export performance in March 2024 increased by 7.51 % compared to the preceding month, February 2024. Figure 1 shows Monthly Merchandise export performance from the year 2021 to March 2024.
In a significant move towards attracting export-oriented businesses to Port City Colombo, CHEC Port City Colombo (Pvt) Ltd recently entered into a partnership with the Sri Lanka Export Development Board (EDB).
The merchandise export performance in February 2024 amounted to US$ 983.7 million, recorded a modest increase of 0.17 % compared to February 2023. Furthermore, export performance in February 2024 increased by 1.3% compared to the preceding month, January 2024.
The Sri Lanka Export Development Board (EDB) in collaboration with the Ministry of Industries and Department of Commerce organized a seminar on “Exploring Opportunities and Implications of the Sri Lanka-Thailand Free Trade Agreement" at the Auditorium of Postgraduate Institute of Management (PIM) on 29th February, 2024 for Sri Lankan exporters.
The merchandise export performance in January 2024 amounted to US$ 970.7 million, recorded a 0.77 % decline compared to January 2023.
In Sri Lanka’s pursuit of transforming into a high-income country by 2048 involving trade negotiations with countries like Thailand, the Sri Lanka Thailand Free Trade Agreement (SLTFTA), was signed, during the visit of Thai Prime Minister Hon. Srettha Thavisin and his delegation of business dignitaries today (03/02/2024) at the Presidential Secretariat.
Sri Lanka’s total exports reached US$ 14.94 Bn in 2023 including merchandise exports (US$ 11.85Bn) and estimated service exports (US$ 3.08 Bn). It is only a 0.39 % decline when compare to the value recorded in previous year (US$ 14.99 Bn). Estimated increase in service exports is around 63%.
In a Strategic move to promote International Fair Trade and foster global cooperation, Sri Lanka officially signed the Framework of Cooperation (FOC) with international fair trade networks in Colombo recently. The signing ceremony, attended by representatives from major fair trade and supporting organizations, took place at the Colombo Ramada Hotel.
Sri Lanka’s merchandise exports increased by 4.4% to US$ 968.8 Million in November 2023 compared to October 2023 as per the provisional data released by the Sri Lanka Customs.However, it is a 2.67 % decrease when compared to the value recorded in November 2022.
Sri Lanka’s merchandise exports decreased by 14.6 % to US$ 898.0 Million in October 2023 compared to October 2022 as per the provisional data released by the Sri Lanka Customs. Also, it is a 13.13 % decrease when compared to the value recorded in September 2023.
The 25th Presidential Export Awards (PEA), organized by the Sri Lanka Export Development Board (EDB), was successfully held on November 23rd, 2023, under the patronage of Hon President Ranil Wickremesinghe at the Bandaranaike Memorial International Conference Hall (BMICH), Colombo, with the participation of a large number of exporters. The award winners were presented a prestigious PEA trophy and a certificate, and they have the privilege to use the “Award Logo” as a marketing tool for a three-year period.
Colombo Port City Special Economic Zone (SEZ) positioned as an extension of Colombo’s existing Central Business District is a 269 Ha land reclamation project in the heart of South Asia. This mega development is a testament to Sri Lanka's commitment to becoming a global economic hub. The SEZ designation brings a myriad of benefits, making it an attractive destination for businesses and investors alike.
In a significant move underscoring their dedication to promoting excellence in exports, People's Bank has partnered with the Sri Lanka Export Development Board (EDB) as the Platinum Sponsor for the prestigious ‘Presidential Export Awards 2023.’ The collaboration was formally sealed when Mr. Sujeewa Rajapaksa, Chairman of People's Bank, symbolically presented the patronage cheque to Dr. Kingsley Bernard, Chairman/ CEO of Export Development Board, at the headquarters of People's Bank on the 27th of October 2023.
In a significant move towards economic advancement, Sri Lanka has initiated the process of revitalizing its existing Export Strategic Plan (National Export Strategy 2018-2022). The endeavor, spearheaded by the Sri Lanka Export Development Board (EDB) in collaboration with the Ministry of Investment Promotion, has obtained technical support from the International Trade Center (ITC) based in Geneva. Mr. Charles Roberge, Senior Officer, Trade Strategy and competitiveness, ITC visited Sri Lanka from October 16th to October 18th on this purpose. During the visit, the ITC expert had the opportunity to meet the representatives of Associations, Chambers, Advisory Committees and policy makers of the Government.
Sri Lanka’s merchandise exports increased by 6.98 % to US$ 1,091.6 Million in August 2023 compared to July 2023 as per the provisional data released by the Sri Lanka Customs. However, it is a 10.91 % decrease when compared to the value recorded in August 2022.
The 1st of August, 2023, marks the 44th anniversary of the Sri Lanka Export Development Board (EDB). The EDB was established in 1979 with the objective of establishing a strong government-level institutional framework to develop and promote Sri Lanka’s exports in order to integrate with the global economy consequent to the adoption of liberal economic policies in 1977, and it has been at the vanguard in terms of promoting and developing exports in Sri Lanka for over four decades.
Sri Lanka’s merchandise exports increased by 16.6 % to US$ 989.7 Million in May 2023 compared to April 2023. However, it is a 5.59 % decrease when compared to May 2022.
The Sri Lanka Export Development Board (EDB) successfully organized the inaugural "EDB Open Day" program, aimed at providing guidance to innovative entrepreneurs and encourage their participation in the export sector. Held on 15th June at the EDB premises, the event garnered a tremendous response with over a thousand budding entrepreneurs from across the island in attendance. Notably, the program witnessed a significant participation of young individuals who were passionate in exploring opportunities in the export market.
