Sri Lanka Hits Record US$ 14.4 Billion in Exports | Coconut Products Cross US$ 1 Billion

COLOMBO (News 1st);  Sri Lanka’s export sector has achieved a record-breaking milestone, surpassing US$ 14.43 billion in total earnings during the first ten months of 2025, the highest ever for this period in the nation’s history.

This marks a 6% growth compared to the same period in 2024, according to data from Sri Lanka Customs and the Export Development Board (EDB).

Merchandise exports accounted for US$ 11.37 billion, while services exports contributed US$ 3.06 billion, underscoring the growing importance of ICT/BPM, transport, and logistics in Sri Lanka’s export portfolio.

EDB Chairman Mangala Wijesinghe hailed the achievement: “This is the highest-ever export figure recorded for the January–October period in Sri Lanka’s history. The continued recovery of key Western markets, along with the steady production capacity maintained by local industries, has played a pivotal role in driving this growth. I commend our exporters for their resilience and outstanding performance. Notably, 80% of the annual export target of US$ 18 billion has already been realized during this period.”

In October alone, exports reached US$ 1.47 billion, with US$ 1.158 billion from goods and US$ 316 million from services.

Coconut-based products emerged as a star performer, crossing the US$ 1 billion mark for the first time, with a staggering 43.8% growth year-on-year. Apparel exports rose 5.56% to US$ 4.44 billion, while tea exports grew 8.72% to US$ 1.29 billion.

Other sectors showing strong growth include Food & Beverages (+24.9%), ICT/BPM (+9.25%), and Electrical & Electronics (+2.14%). However, rubber-based products, spices, and ornamental fish recorded declines.

Among the top 10 export destinations, Germany, Italy, the Netherlands, United Arab Emirates, Canada, France and China recorded year-on-year growth in October 2025 as well as during the cumulative period from January to October 2025.

The United States, Sri Lanka’s largest single export market, accounting for 23% of the country’s merchandise exports, recorded a slight 0.46% decline to US$ 246.2 Mn in October 2025 compared to October 2024.

However, exports to the United States increased by 2.68% during the period of January to October period, reaching US$ 2,498.04 Mn.

India has continued as the Sri Lanka’s second-largest export destination, surpassing the United Kingdom. Exports to India decreased by 10.03 % to US$ 74.49 Mn in October 2025, while cumulative exports from January to October 2025 increased by 19.31 %, reaching US$ 866.9 Mn compared to the same period in 2024.

Exports to the United Kingdom decreased by 5.38 % to US$ 70.36 Mn in October 2025 compared to the same month in 2024. During the cumulative period from January to October 2025, exports to the UK recorded a growth of 3.45 %, reaching US$ 792.1 Mn compared to the corresponding period in 2024.