Exports top $ 10 b mark in first eight months

Tuesday, 1 October 2024 01:59 - - {{hitsCtrl.values.hits}}

Merchandise exports up 5.37% to $ 8.44 b; services by 7.58% to $ 2.24 b

The value of Sri Lanka’s export of goods and services crossed the Rs. 10 billion mark in the first eight months of this year reflecting a near 6% growth year-on-year (YoY).

The Sri Lanka Export Development Board (SLEDB) revealed yesterday that total merchandise exports in the first eight months were up 5.37% YoY to over $ 8.44 billion, while estimated total service sector earnings increased by 7.58% YoY to $ 2.24 billion. Thereby, the overall export earnings for the January to August period reached a high of $ 10.68 billion, marking a 5.82% YoY growth.

In August merchandise export earnings reached a high of $ 1.16 billion in August, bringing the total value of goods shipped in the first eight months of 2024 to over $ 10 billion.

Merchandise export earnings in August saw a 4.18% YoY increase reaching $ 1.16 billion, reflecting a 3.1% rise compared to July 2024.

The surge in earnings was largely attributed to a boost in apparel and textiles exports which surpassed $ 500 million mark in August 2024 after a hiatus of two years.

In addition to the merchandise, the estimated value of services exports for August 2024 stood at $ 318.77 million, marking a 6.49% increase over the corresponding period in 2023. The services exports include sectors such as ICT/BPM, construction, financial services, transport and logistics.

Total exports for August 2024, including both merchandise and services, reached $ 1.48 billion, reflecting a 4.6% growth over the corresponding period of 2023.

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