Sri Lanka's Merchandise Exports Show Signs of Recovery in August 2023

September 27, 2023

Sri Lanka's merchandise exports have displayed promising growth, marking a 6.98% increase to reach USD 1,091.6 million in August 2023 compared to the previous month, according to the Export Development Board (EDB).

While this increase is a positive development, the EDB also noted that when compared to the same period in August 2022, there has been a 10.91% decrease in export value. This decline in merchandise exports is attributed to reduced demand for export products, particularly in key sectors such as apparel and textiles, rubber and rubber-based products, and coconut and coconut-based products.

This fluctuation in export figures highlights the ongoing challenges faced by Sri Lanka's export industry, underscoring the need for sustained efforts to bolster the sector and stimulate economic recovery, experts said