November export decline: Sri Lanka’s merchandise performance drops

Sri Lanka’s total exports in November 2024 reached $1,269.33 million, marking a slight year-on-year growth of 0.04%, according to the Export Development Board (EDB).

Merchandise exports declined by 5.6%, but strong growth in services, particularly ICT and logistics, boosted overall performance.

Provisional data from Sri Lanka Customs revealed that merchandise exports for November stood at $943.1 million. The drop was primarily due to lower earnings from rubber-based products, electrical and electronic components, food and beverages, and seafood.

In contrast, services exports surged to $326.23 million in November 2024, reflecting a 20.89% increase compared to November 2023, the EDB reported.

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