President puts export growth as priority

Thursday, 29 May 2025 05:56 - - {{hitsCtrl.values.hits}}

Convenes discussion with officials and private sector on challenges
Says focus on long-term industrial development strategy key to overcome barriers to exports

Signalling the priority to boost exports, President Anura Kumara Disanayake yesterday convened a top-level meeting of officials and the private sector to identify challenges and resolution measures.

The discussion centred on the Government’s strategic approach to strengthening domestic production and transitioning towards an export-oriented economy. Particular attention was paid to formulating a long-term industrial development plan to address and overcome current challenges in the export sector.

Key areas of discussion included identifying the necessary steps to enhance the export sector and the presentation of relevant proposals and plans to the President.

Industry and Entrepreneurship Development Minister Sunil Handunneththi, Deputy Minister Chathuranga Abeysinghe, Finance Ministry Secretary Mahinda Siriwardana, Industry and Entrepreneurship Development Ministry Secretary Thilaka Jayasundara, and Senior Additional Secretary to the President Russell Aponsu were among the officials who participated in the discussion. Among private sector representatives were members of the Joint Apparel Association Forum (JAAF).

The Export Development Board earlier this week said Sri Lanka’s export sector has demonstrated remarkable resilience and steady progress during the first four months of 2025, with total exports reaching $ 5.583 billion, marking a robust 6.9% increase compared to the same period in 2024.

Total exports, including both merchandise and services, reached $ 1,292.63 million in April 2025. This marks an impressive year-on-year (YoY) growth of 8.74% over April 2024, reflecting the resilience of Sri Lanka’s export sector and the positive impact of strategic efforts to diversify markets and enhance competitiveness.

In April 2025 alone, merchandise exports grew by 12.05% YoY, reaching $ 983.33 million, according to provisional data of Sri Lanka Customs, including the estimates for Gems and Jewellery and Petroleum Products. For the period January to April 2025, merchandise exports totalled $ 4,334.22 million, reflecting a 6.86% increase compared to the same period in 2024.

Services exports have emerged as a key driver of overall export growth. In April 2025, estimated earnings from services exports reached $ 309.3 million. Over the first four months of the year, services exports are estimated to have increased by 7.06%, totalling $ 1,189.63 million.

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