Sri Lanka’s export sector maintained its upward trajectory in March 2025, pushing the total first-quarter earnings to US $ 4.21 billion, up 5.87 percent year-on-year (YoY), the data from the Export Development Board (EDB) showed.
March exports rose 6.24 percent YoY to US $ 1.51 billion, with merchandise exports growing 5.87 percent to US $ 1.22 billion and services exports up 7.79 percent to US $ 291.12 million. Compared to February, total exports jumped 11.76 percent, reflecting improved momentum in both goods and services trade.
“This positive export performance underscores Sri Lanka’s growing prominence in global trade and reflects the effectiveness of the ongoing efforts to enhance competitiveness,” EDB Chairman Mangala Wijesinghe said.
Export earnings from apparel and textiles, the country’s top export, climbed 11.73 percent YoY to US $ 495.95 million in March, bringing the 1Q total to US $ 1.38 billion, up 11.09 percent YoY. Exports to the US and UK saw double-digit gains, rising 18.07 percent and 16.65 percent, respectively.
Tea exports rose 11.19 percent to US $ 138.83 million in March, bolstered by the increased bulk and packeted tea volumes. Iraq, Russia and Iran saw robust import growth, with tea shipments to Iran soaring 155.11 percent. Cumulative tea exports in 1Q rose 4.56 percent YoY to US $ 370.95 million.
Coconut-based product exports surged 27.24 percent in March, with coconut oil and milk powder up 76.63 percent and 93.45 percent, respectively. The 1Q earnings from coconut exports grew 26.44 percent YoY to US $ 257.46 million.
Spices and essential oils surged 146.26 percent YoY in March to US $ 42.11 million, led by sharp increases in pepper (942.86 percent), cloves (560 percent) and cinnamon (74.16 percent). For 1Q, the category posted a 71.43 percent YoY gain.
Meanwhile, services exports, driven by ICT/BPM, construction, financial services and logistics, rose 10.88 percent YoY in 1Q to US $ 887.04 million. ICT/BPM exports were up 2.54 percent in March to US $ 114.82 million, while logistics and transport gained 23.69 percent to US $ 170.18 million.
Seafood exports remained under pressure, falling 16.02 percent in March to US $ 16.98 million, with fresh fish and shrimp shipments down 48.63 percent and 70.13 percent, respectively. Rubber-based exports dipped 5 percent YoY to US $ 93.08 million, while electrical and electronic components fell 4.96 percent to US $ 38.72 million.
Boatbuilding exports declined 82.35 percent YoY in March to US $ 1.92 million, reversing the gains seen in February.
For 2025, Sri Lanka targets US $ 19 billion in total exports, including US $ 14 billion in merchandise and US $ 4.2 billion in services. The long-term plans aim to raise the export earnings to US $ 36 billion by 2030.
