Trade Trend

In 2023, Sri Lanka's total export value is 11.56Billion USD, total import value is 16.41Billion USD, Deficit is -4.85Billion USD, and foreign trade dependency is 0.332. In 2023，Sri Lanka's top export products are Tea(1.28Billion USD), Brassieres, girdles, corsets, braces, suspenders, garters and similar articles and parts thereof; whether or not knitted or crocheted(552.08Million USD), Slips, petticoats, briefs, panties, nightdresses, pyjamas, negligees, bathrobes, dressing gowns and similar articles; womens or girls, knitted or crocheted(535.76Million USD), top export destinations are United States(2.74Billion USD), United Kingdom(842.72Million USD), India(825.76Million USD). In 2023, Sri Lanka's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(2.74Billion USD), Petroleum oils and oils obtained from bituminous minerals; crude(681.44Million USD), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale(507.22Million USD), top import origins are India(3.31Billion USD), China(3.08Billion USD), United Arab Emirates(1.31Billion USD).

Comparing to 2022, Sri Lanka's total export value decreased -1.18Billion USD(-9.26%) in 2023, this could result from its export decreases of products such as Suits, ensembles, jackets, dresses, skirts, divided skirts, trousers, bib and brace overalls, breeches and shorts (not swimwear), womens or girls, knitted or crocheted(-160.98Million USD or -33.27%), Slips, petticoats, briefs, panties, nightdresses, pyjamas, negligees, bathrobes, dressing gowns and similar articles; womens or girls, knitted or crocheted(-135.77Million USD or -20.22%), Tshirts, singlets and other vests; knitted or crocheted(-114.83Million USD or -18.71%) and export decreases to countries/economics such as United States(-572.28Million USD or -17.26%), Germany(-159.67Million USD or -21.47%), United Kingdom(-122.33Million USD or -12.68%). Comparing to 2022, Sri Lanka's total import value decreased -865.18Million USD(-5.01%) in 2023, this could result from its import decreases of products such as Rice(-275.26Million USD or -94.19%), Fabrics; knitted or crocheted fabrics, other than those of headings 60.01 to 60.04(-133.50Million USD or -23.70%), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-126.53Million USD or -4.42%), and its import decreases from countries/economies such as India(-1.27Billion USD or -27.71%), China(-439.73Million USD or -12.50%), Taiwan CN(-128.75Million USD or -32.73%).

Cumulated to first 7 months of 2024, Sri Lanka's total export value is 4.70Billion USD, total import value is 7.37Billion USD, and tradedeficit is -2.68Billion USD. Cumulated to first 7 months of 2024, Sri Lanka's top export products are Tea(554.62Million USD), Brassieres, girdles, corsets, braces, suspenders, garters and similar articles and parts thereof; whether or not knitted or crocheted(227.93Million USD), Suits, ensembles, jackets, dresses, skirts, divided skirts, trousers, bib and brace overalls, breeches and shorts (other than swimwear); womens or girls (not knitted or crocheted)(205.06Million USD), and top export destinations are United States(1.12Billion USD), United Kingdom(378.17Million USD), India(311.67Million USD). Cumulated to first 7 months of 2024, Sri Lanka's top import products are Tea(554.62Million USD), Brassieres, girdles, corsets, braces, suspenders, garters and similar articles and parts thereof; whether or not knitted or crocheted(227.93Million USD), Suits, ensembles, jackets, dresses, skirts, divided skirts, trousers, bib and brace overalls, breeches and shorts (other than swimwear); womens or girls (not knitted or crocheted)(205.06Million USD), and top import origins areChina(1.54Billion USD), India(1.47Billion USD), United Arab Emirates(683.11Million USD).