Sri Lanka faces US $ 10bn second-half export test to meet record 2026 target
Chairman/CEO Mangala WijesingheSri Lanka will need to generate about US $ 10 billion in export earnings during the second half of 2026, to meet its record full-year target of US $ 19 billion, after bringing in nearly US $ 9 billion in the first six months.
The target requires the export earnings in the second half to exceed the first-half performance by more than 11 percent, placing greater pressure on merchandise and services exports to maintain growth, despite the uncertain global trading conditions.
Export Development Board (EDB) Chairman and CEO Mangala Wijesinghe said the agency’s broader ambition was to reposition exports as a central driver of Sri Lanka’s economy.
“Our primary vision is to transform Sri Lanka into the world’s premier export hub for exceptional goods and services,” Wijesinghe said in a statement marking the EDB’s 47th anniversary.
The EDB expects the full-year performance to set a new export earnings record. However, the statement did not provide a breakdown of the nearly US $ 9 billion earned during the first half or specify the contribution from the merchandise and services exports.
Sri Lanka’s longer-term export strategy is built around the National Export Development Plan 2026-2030, launched in June. It aims to increase the total export earnings to US $ 36 billion by 2030, almost double the amount targeted for this year. The statement listed the 2030 targets as US $ 27 billion from the merchandise exports and US $ 8 billion from services. These figures add up to US $ 35 billion, leaving a US $ 1 billion discrepancy that requires clarification.The plan also seeks to widen Sri Lanka’s export basket beyond the traditional industries. Eight new sectors have been selected for promotion, with the EDB identifying electronics, food and beverages, information technology and logistics as the areas already recording growth.
The EDB has also reiterated its ambition to raise the exports’ contribution to 25 percent of gross domestic product and increase the SME share of exports to 25 percent.
Sri Lanka Expo will return from January 14 to 17, 2027, after a 15-year break, as part of the efforts to connect the local exporters with international markets. The EDB expects more than 1,500 foreign buyers to participate.
It will select 650 exporters from more than 1,100 applicants, while over 200 stalls will be reserved for the SMEs. An investor forum will also be held on January 15, in collaboration with the Board of Investment, Tourism Ministry and Colombo Port City.
