Sri Lanka’s export performance in major markets in December 2024 shows a positive growth in India, Germany and the Netherlands markets from its top 10 export markets.
According to the Export Development Board (EDB), positive growth has also been reported in the cumulative period from January to December 2024, compared to the corresponding periods in 2023.
The United States of America, Sri Lanka’s single largest export destination, which absorbs 23% of Sri Lanka’s merchandise exports, decreased by 1.47 % to US$ 250.02 Mn in December 2024 compared to December 2023.
In parallel, exports to the United States of America in the cumulative period of January to December 2024 increased by 5.49 % to US$ 2,909.97 million compared to the corresponding periods in 2023.
Exports to the United Kingdom decreased by 3.98 % to US$ 69.45 million in December 2024 compared to the corresponding month in 2023.
However, exports to the United Kingdom increased by 6.8 % to US$ 903.72 million in the cumulative period of January to December 2024 compared to the corresponding period in 2023.
Region-wise, in December 2024, exports to India and Pakistan accounted for 8.4% of total merchandise exports, experiencing an increase of 60.89 % to US$ 93.22 million compared to December 2023.
Both, exports to India and Pakistan increased by 61.58 % and 51.53 % respectively in December 2024 compared to December 2023.
The Positive performance of India was driven by higher exports of Petroleum oils (925%) and Pepper (216.74%) and the Positive performance of Pakistan was driven by higher exports of Other Articles of Stones and Other Textile Articles. (Newswire)
