Monday Jan 27, 2025
Monday Jan 27, 2025
Monday, 27 January 2025 02:48 - - {{hitsCtrl.values.hits}}
The Export Development Board (EDB) announced a record-breaking performance in 2024, achieving its highest ever export earnings of $ 16.17 billion, marking a 7.06% year-on-year (YoY) growth.
The growth was driven by $ 12.7 billion in merchandise exports reflecting a 6.67% YoY growth and $ 3.46 billion in service export revenue registering an 8.51% increase over the corresponding period in 2023.
“This achievement surpasses the previous high of $ 15.72 billion achieved in 2018 and $ 15.65 billion registered in 2019,” EDB Chairman Mangala Wijesinghe said.
He commended the exporters for their continued efforts to improve the quality of products and boost export earnings.
Wijesinghe suggested that Sri Lanka needs to make exports a national priority, noting the economy cannot grow without exports.
Citing the provisional data released by the Sri Lanka Customs, the EDB revealed yesterday that December merchandise export earnings reached a high of $ 1.04 billion, reflecting a 4.06% YoY growth in goods shipped.
The surge in December 2024 earnings was largely attributed to a boost in apparel and textiles exports, tea, rubber based products, coconut based products, spices and concentrates and food and beverages.
In addition to the merchandise, the estimated value of services exports for December 2024 stood at $ 322.92 million, marking a 29.96% 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 December 2024, including both merchandise and services, reached $ 1.36 billion, reflecting a 9.21% growth over the corresponding period of 2023.
