Export Development has reported positive growth in several key export markets for Sri Lanka during March 2024 and the cumulative period of January to March 2024, compared to the corresponding periods in 2023. Among the top 10 export destinations for Sri Lanka, countries such as the UK, Germany, Netherlands, Canada, and China have shown significant growth.
In March 2024, exports to the United States of America, which is Sri Lanka’s largest export destination, increased by 2.39% to US$ 241.5 million compared to March 2023. However, exports to the USA in the cumulative period of January to March 2024 decreased by 1.4% to US$ 711.57 million compared to the same period in 2023. On the other hand, exports to the United Kingdom saw a notable increase of 13.48% to US$ 88.57 million in March 2024, and a 6.56% increase to US$ 239.02 million in the January to March 2024 period compared to the corresponding periods in 2023.
Furthermore, Sri Lanka’s exports of ICT/BPM and Transport & Logistics services saw positive growth, increasing by 4.69% and 14.06%, respectively, during January to March 2024 compared to the previous year. Specifically, exports of Transport & Logistics services surged by 35.67% to US$ 144.9 million in March 2024 compared to March 2023. The overall value of services exports for January to March 2024 amounted to US$ 788.7 million, marking a 7.76% increase over the corresponding period in 2023.