Sri Lanka Export Data

Sri Lanka's Import/Export Overview and Domestic Market Analysis

Imports & Exports

• Top Trade Partners: Sri Lanka's main trading partners include India, China, the United States, the UK, and Singapore, reflecting a diverse international trade network.

• Top 5 Imports: Crude petroleum, refined petroleum, gold, diamonds, and machinery parts account for a significant portion of imports, with crude petroleum alone comprising a substantial part.

• Top 5 Exports: Garments, tea, rubber products, spices, and precious stones are the leading exports, where garments take the lead, contributing to a notable share of total exports.

• Trade Balance: Sri Lanka often experiences a trade deficit, where imports exceed exports, highlighting the need for economic policies aimed at promoting local production and export competitiveness.

• Export-import Policies: The government has implemented various measures to promote exports, including tax incentives for export-oriented industries and strategies to diversify export markets, aiming to foster economic growth.

Domestic Market

• Consumer Spending: Consumer expenditure is influenced by a mix of economic factors, including income levels and inflation rates, which have seen fluctuations, impacting household buying power.

• Interest Rates & Inflation: Monetary policy adjustments, including interest rate changes, have been made to control inflation, aiming to stabilize prices and support economic stability.

• Supply Chain Dynamics: The supply chain has faced challenges due to global disruptions, affecting the availability and pricing of goods, particularly in sectors reliant on imported raw materials.

• Industry Performance: Sectors such as textiles, agriculture, and tourism have shown resilience, adapting to market demands and global trends, while technology and services are emerging as new growth pillars.

Overall Outlook

Sri Lanka's economy, despite facing trade deficits and domestic market challenges, is poised for growth through strategic export diversification, enhanced productivity, and harnessing the potential of emerging sectors, aiming for sustainable development in the long run.