Sri Lanka’s merchandise export performance in October 2024 which amounted to US$ 1,097.1 million, recorded an increase of 18.22 % compared to the month of October 2023, the Export Development Board (EDB) reported.
As per the provisional data released by Sri Lanka Customs, this was mainly due to the increase in earnings from the export of Apparel & Textiles, Tea, Rubber-based products, coconut-based products and Spices & Concentrates.
The EDB further stated that export performance in October 2024 increased by 8.44 % compared to September 2024.
The estimated value of services exports for the month of October 2024 was US$ 323.17 Million, increasing 19.75 % over the corresponding period of 2023.
Consequently, total exports for October 2024, including both merchandise and services, were recorded at US$ 1,420.27 million, increasing 18.57 % over the corresponding period of 2023.
“I am immensely proud of the remarkable export performance achieved in October 2024. The 18.22% year-on-year growth in merchandise exports, along with the substantial increase in services exports, reflects the resilience and innovation of Sri Lanka’s exporters. This growth, driven by key sectors such as apparel, tea, and rubber-based products, underscores our ability to adapt effectively to global market demands. I commend all stakeholders for their dedication and look forward to building on this momentum to further enhance our export potential and strengthen Sri Lanka’s economy,” said Mangala Wijesinghe, Chairman & Chief Executive Officer of the EDB.
Full statement:
Export Performance Jan-Oct 2024 v1
