Export Development says that among the top 10 export markets of Sri Lanka, UK, Germany, Netherlands, Canada and China have shown positive growth in both March 2024 and the cumulative period of January to March 2024 compared to the corresponding periods in 2023.
United States of America, Sri Lanka’s single largest export destination, which absorbs 23% of Sri Lanka’s merchandise exports, increased by 2.39 % to US$ 241.5 Mn in March 2024 compared to March 2023. However, exports to America in the cumulative period of January toMarch2024 decreased by 1.4 % to US$ 711.57 Mn compared to the corresponding periods in 2023. Additionally, exports to the United Kingdom increased by 13.48% to US$ 88.57Mn in March 2024 compared to the corresponding month in 2023. Meanwhile, exports to the United Kingdom increased by 6.56 % to US$ 239.02 Mn in the cumulative period of January to March 2024 compared to the corresponding period in 2023.
In addition, exports of ICT/ BPM and Transport & Logistics services increased by 4.69 % and 14.06% respectively during January – March 2024 compared to the previous year.
In addition, exports of Transport & Logistics services increased by 35.67 % to US$ 144.9 Mn in March 2024 compared to March 2023. The value of services exports for the period of January to March 2024was US$ 788.7 Million, increasing 7.76 % over the corresponding period of 2023.
