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EDB Chairman Mangala Wijesinghe
By Charumini de Silva
Export Development Board (EDB) Chairman Mangala Wijesinghe yesterday said Sri Lanka is on track to surpass $ 17 billion in export revenue for the first time in its history in 2025, with earnings from goods and services reaching $ 15.77 billion during the first 11 months of the year, reflecting a 5.8% year-on-year (YoY) growth.
Addressing the media at a special briefing organised by the Government Information Department, Wijesinghe said 87% of the country’s annual export target of $ 18.2 billion has already been achieved, underscoring a steady upward trajectory in export performance.
“The latest data shows consistent growth in both merchandise and services exports, despite increasing global competition and uncertainties,” he said.
In November 2025 alone, total exports including merchandise and services, reached over $ 1.36 billion, marking a 5.56% YoY increase.
Merchandise exports during the month grew by 5.59% to exceed $ 1.05 billion, supported by higher earnings from gems and jewellery, coconut and coconut-based products, electrical and electronics, as well as food and beverages.
During the period from January to November 2025, total merchandise exports amounted to $ 12.41 billion, reflecting a robust 6.41% YoY growth.
Services exports continued to emerge as a key driver of overall export expansion. In November 2025, services export earnings were estimated at $ 311.28 million, up 4.27% from a year earlier. Cumulatively, services exports during the first 11 months of the year grew by 3.62% YoY to reach $ 3.35 billion.
Wijesinghe said this trend highlights the growing importance of Sri Lanka’s knowledge-based economy, with sectors such as ICT/BPM, construction, financial services, and transport and logistics playing an increasingly significant role in national export earnings, whilst creating high-value employment across the country.
According to EDB data, apparel and textile exports, the country’s single largest export sector, recorded a 4.9% YoY increase between January and November 2025, reaching over $ 4.82 billion. Apparel exports accounted for 32% of total export earnings during the period.
Agriculture exports also posted strong gains. Tea exports, which made up 12% of total merchandise exports, rose by 7.44% YoY to exceed $ 1.4 billion, while coconut-based exports surged by 44.13% to over $ 1.13 billion.
On the services side, transport and logistics exports grew by 7.54% YoY to $ 1.76 billion during the first 11 months, while ICT/BPM exports increased by 6.86% YoY to over $ 1.45 billion.
“With sustained efforts to enhance competitiveness and expand market opportunities, we are confident of reaching record-breaking export targets in 2025,” Wijesinghe said.
The EDB Chief said Sri Lanka is targeting total export earnings of $ 20 billion in 2026, with a 10% YoY growth, as merchandise exports are projected to exceed $ 15.7 billion and services exports expected to rise to $ 4.3 billion.
“These targets align with a broader five-year strategy to increase total export earnings to $ 36 billion by 2030, comprising $ 25 billion from goods and $ 11 billion from services,” he added.
Among the top 10 export destinations, US, India, Italy, Germany, United Arab Emirates, the Netherlands, France and China recorded YoY growth in November 2025 as well as during the cumulative period from January to November 2025.
The US, Sri Lanka’s largest single export market, accounting for 23% of the country’s merchandise exports, registered a 3.97% YoY increase to $ 236.2 million in November 2025. However, exports to the US increased by 2.79 % during the first 11 months of 2025 to over $ 2.73 billion.
India has continued as Sri Lanka’s second-largest export destination, surpassing the UK. Exports to India increased by 25.77% to $ 88.43 million in November 2025, while cumulative exports in 2025 increased by 19.88%, reaching $ 955.32 million compared to the same period in 2024.
Exports to the UK decreased by 8.28% YoY to $ 62.92 million in November 2025. During the cumulative period from January to November 2025, exports to the UK recorded a growth of 2.49% YoY, reaching $ 855.01 million.
In terms of exports to Free Trade Agreement (FTA) partners, in November 2025, exports to India and Pakistan accounted for 7.86% of total merchandise exports, registering an increase of 25.06% YoY and a decrease to $ 94.23 million.
Exports to India increased mainly driven by higher shipments of animal feed, while exports to Pakistan increased by 15.08%, supported primarily by stronger desiccated coconut exports.
During the period from January to November 2025, exports to India and Pakistan accounted for 8.2% of Sri Lanka’s total merchandise exports, recording a substantial increase of 18.21% to reach over $ 1.02 billion compared to the same period in the previous year.
Exports to India increased significantly by 19.88%, driven mainly by higher shipments of petroleum oil, animal feed and animal or vegetable fats and oils and their products. In contrast, exports to Pakistan decreased slightly by 0.83%, reflecting a decrease in desiccated coconut shipments.
Regionally, exports to the European Union (EU), which account for 24% of Sri Lanka’s merchandise exports, increased during both November 2025 and the cumulative period of January to November 2025 respectively by 10.08% and 14.06%.
