Sri Lanka’s merchandise export performance for June 2024 reached $1,031.2 million, marking a 2.58% increase compared to June 2023. This growth was driven by higher earnings from apparel & textiles, tea, rubber-based products, coconut-based products, food & beverages, and spices & concentrates.
Compared to May 2024, exports in June 2024 rose by 1.97%. Services exports for June were estimated at $323.13 million, reflecting a substantial 39.05% increase from the previous year. As a result, total exports, including merchandise and services, amounted to $1,354.32 million for June 2024, up by 9.42% from the same period in 2023.
Key highlights include:
- Apparel & Textiles: Export earnings grew by 4.22% year-on-year to $446.54 million. Exports to the USA saw a notable increase of 13.28%.
- Tea: Earnings rose by 9.18% year-on-year to $121.76 million, driven by a 14.91% increase in bulk tea exports and a 4.13% rise in tea packets. Exports to Russia, UAE, and Iran surged by 28.65%, 42.73%, and 131.36%, respectively.
- Rubber & Rubber Products: Export earnings climbed 11.8% year-on-year to $82.63 million, supported by strong performance in pneumatic and retreated rubber tyres and tubes (3.78%) and industrial and surgical gloves (28.2%).