EDB five-year grandiose plan to increase country’s exports to USD 31.3 bn by 2027

Sri Lanka’s Export Development Board (EDB) said yesterday (02) it is in the process of developing a five-year strategic plan to increase the country’s annual exports to 31.3 billion U.S dollars by 2027.

The EDB also plans to increase Sri Lankan exports to its top 10 existing export markets by 10 percent annually.

The top 10 markets are the USA, the UK, India, Germany, Italy, the Netherlands, Canada, the UAE, Belgium and France.

The EDB also plans to identity 10-15 potential new markets and increase Sri Lanka’s market share in these markets by 5 percent annually.

The exports will be expanded by promoting customized value-added products and services to the identified niche markets with premium prices, the EDB said.

The EDB was established in 1979, and celebrated its 44th anniversary on 01 August 2023.

Earnings from exports in 2022 surpassed 13 billion U.S. dollars for the first time, recording an increase of 4.9 percent from the previous highest recorded in 2021.