The Export Development Bank (EDB) has reported that Sri Lanka’s total exports for the year 2023 amounted to USD 14.49 billion. Despite a minor decline of 0.39% compared to the previous year, the EDB emphasized the resilience of the export sector.
In a comprehensive report on the matter, the EDB disclosed that Sri Lanka had achieved a total export value of USD 14.99 billion in 2022, marking a noteworthy increase of USD 3.08 billion from the preceding year.
According to the report, the estimated value of service exports for the period from January to December 2023 reached USD 3,080.9 million, reflecting a remarkable growth of 63.1% compared to the corresponding period in 2022. Concurrently, cumulative merchandise exports during the same period experienced a decrease of 9.54%, totaling USD 11,856.3 million as compared to the corresponding period in 2022.
Despite the overall minor decline, the substantial increase in service exports underscores a positive aspect of Sri Lanka’s trade performance in 2023. The EDB’s report provides valuable insights into the dynamics of the country’s export landscape and its resilience in the face of challenges.
