Sri Lankaโs export sector maintained strong growth momentum during the first five months of 2026, with total export earnings exceeding US$7.3 billion, underlining the resilience of the countryโs external sector and strengthening prospects for export-led economic growth.
According to the Export Development Board (EDB), combined merchandise and services exports reached an estimated US$7.39 billion between January and May, marking a 7.56 percent increase from the corresponding period last year.
Merchandise exports amounted to US$5.76 billion during the period, up 7.63 percent year-on-year, while services exports grew 7.31 percent to US$1.63 billion, reflecting the increasing contribution of knowledge-based industries to foreign exchange earnings.
In May alone, total exports rose 18.34 percent to US$1.57 billion compared with the same month in 2025. Merchandise exports climbed 18.25 percent to US$1.22 billion, while services exports increased 18.67 percent to US$347.15 million.
EDB Chairman and Chief Executive Officer Mangala Wijesinghe said the sectorโs performance demonstrated the resilience and adaptability of Sri Lankan exporters amid changing global market conditions.
He said the achievement of surpassing the US$7 billion mark within the first five months of the year highlighted the positive trajectory of the countryโs export sector and noted that the recently launched National Export Development Plan (NEDP) 2026-2030 would help build a more competitive and diversified export economy.
Among major export sectors, apparel and textiles recorded a 6.66 percent increase in May to US$414.72 million, supported by a 14.51 percent rise in shipments to the United States. Coconut-based products grew 17.13 percent, while rubber and rubber-based products rose 24.31 percent. Electrical and electronic component exports posted an exceptional 79.77 percent increase to US$68.35 million.
Food and beverage exports advanced 12.02 percent, while gems and jewellery exports rose 11.63 percent. ICT and business process management services were estimated at US$158.21 million for the month. However, tea export earnings declined 1.12 percent in May to US$130.33 million due to weaker demand from Middle Eastern markets. Spices and essential oils fell 2.51 percent, while seafood exports contracted 10.32 percent.
The United States remained Sri Lankaโs largest export destination, accounting for around 22 percent of merchandise exports. India strengthened its position as the second-largest market, overtaking the United Kingdom, while exports to Turkey recorded triple-digit growth, driven largely by rising demand for Sri Lankan tea.
Source: Daily News
