Sri Lanka’s merchandise exports experienced a notable increase of 10.66 percent, reaching 1,165.02 million dollars in January 2026 compared to the previous year. This growth was primarily driven by strong performances in the coconut, processed foods, and seafood sectors, although apparel exports saw a decline, according to data from the Export Development Board (EDB).

Mangala Wijesinghe, Chairman and Chief Executive Officer of the EDB, expressed confidence in Sri Lanka’s potential to sustain this positive trajectory throughout 2026.

The seafood sector was a standout performer, with exports surging by 66.55 percent year-on-year to 29.43 million dollars. The food and beverages sector also saw an impressive rise of 25.29 percent year-on-year, reaching 52.31 million dollars, with processed foods contributing significantly to this growth at 28.7 percent.

Export earnings from coconut-based products increased by 30.69 percent year-on-year in January 2026, driven by strong global demand and enhanced value addition.

Tea exports saw an 8.11 percent increase, amounting to 121.84 million dollars, with significant volume growth in key markets such as Turkey (120.95 percent), Russia (8.84 percent), and Saudi Arabia (11.24 percent).

Rubber and rubber-based product exports grew by 3.88 percent year-on-year, totaling 77.97 million dollars in January 2026. Earnings from electrical and electronics components also rose, with a remarkable increase of 50.79 percent to 42.93 million dollars.

However, export earnings from apparel and textiles declined by 2.82 percent year-on-year to 447.25 million dollars. This decrease resulted from a 2.73 percent drop in exports to the United States and a 1.82 percent decline in shipments to the EU region, as reported by the EDB.

Spices and essential oils exports also faced a decline of 4.57 percent, amounting to 37.21 million dollars during the same period, largely due to a 54.38 percent drop in pepper exports to India.

The United States, which constitutes approximately 22 percent of Sri Lanka’s total merchandise exports, recorded a slight decline of 0.9 percent, reaching 257.85 million dollars in January 2026 compared to January 2025.

India maintained its position as the second-largest export destination, surpassing the United Kingdom, with exports increasing by 38.67 percent to 113.57 million dollars in January 2026. Meanwhile, exports to the United Kingdom rose by 3.18 percent to 82.08 million dollars compared to January 2025.

(Colombo/Feb24/2026)