Sri Lanka’s Top Exports 2022

 

Sri Lanka is an emerging economy. As per WTO reports, Sri Lanka was the 83rd exporter and 82 largest importer in the world. Sri Lanka is known for its unique spices and tea in the global market. As per Sri Lanka import export data, Sri Lanka's exports in 2022 were around 16 billion US Dollars with majority of the exports to the United States, United Kingdom, India, Germany and Italy. 

On the other hand, Sri Lanka imports worth 18 billion US Dollars in 2022 according to Sri Lanka import data reports. Petroleum, textile, machinery, transport equipment and medicaments were Sri Lanka’s major import products.

Through this blog, you will get a detailed analysis on Sri Lanka's top exports.

Top 5 Exports in Sri Lanka

Clothes (Knitted or not knitted)

As per Sri Lanka export data reports,  Apparel & Clothing Accessories (knitted or not knitted) were the major export product of Sri Lanka in 2022. These include carpets, mats, floor coverings, yarn articles etc.

Sri Lanka's clothing accessories accounted for over 5 billion US Dollars in 2022. It was around 3.3 billion US Dollars in 2021. The major importers of Sri Lanka's clothing accessories were the United States, India, Germany, Italy, Belgium, Netherlands, China and Canada. Experts suggest that Sri lanka garment exports could see a 25% rise in 2023.

Rubber

For the fiscal year 2022, Rubber was the second most exported product of Sri Lanka with exports worth 900 million US Dollars. These include natural rubber, rubber gloves, solid pneumatic tyres, and moulded rubber products.

Sri Lanka's rubber market seeks growth in 2022 as rubber exports were around 45 million US Dollars in 2021. Pakistan, Japan, Germany, Malaysia, China and the United states of America were the leading rubber importer from Sri Lanka. Experts predict Sri Lanka would become a 3 billion US Dollars export market by 2025.

Coffee, Tea, Beverages

Sri Lanka is the world's 2nd largest exporter of Tea. Sri Lanka is a very popular tea, coffee & spices market. Sri Lanka's black tea, green tea, white tea, herbal tea has great demand in the international market.

In 2021, Sri Lanka exported over 1 billion US Dollars of these beverages.  Russia, Turkey, Iraq, Iran and China were the major importers of Sri Lankan beverages. Ceylon Cinnamon Corporation, Colombo Coffee Company, DLK Spice Export, Hint Nuwara Eliya and Jubilliant Express were the top Sri Lanka exporters of Coffee, Tea and Beverages in 2022.

Precious Gems, Stones & Metals

Diamond, Jewellery and Gems were the fourth most traded goods from Sri Lanka. Precious gems like ruby, sapphire, garnet, aquamarine and Cymophane were the most exported gems from the Sri Lankan market. There was a mere increase in Sri Lanka precious stones exports in 2022. 

As Sri Lanka recorded over 600 million US Dollars exports of precious gems in 2022. Sri Lanka does most of its precious stones & gems to the United states, Thailand, Switzerland, Hong Kong and United Arab Emirates. The government is taking measures to reach 1 billion US Dollars by 2023.

Electrical Machinery, Equipment

As per the latest Sri Lanka trade data, the electrical equipment and machinery exports from Sri Lanka accounted for 366 million US Dollars in 2021.  It was 33% more as compared to 27 million US Dollars in 2020. Optical fibre cables, Electronic IC's, Transformers, Generators, plugs, sockets etc. were the major exports products by Sri Lanka.

The major importers of Sri Lankan electrical goods were Switzerland (60 million US Dollars), Bangladesh (40 million US Dollars), India (35 million US Dollars), the United States (22 million US Dollars) and Hong Kong (20 million US Dollars). It was the Fifth largest product from Sri Lanka and could seek rapid growth in Future.

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