Sri Lanka’s export earnings decline slightly in 2023

Sri Lanka’s total exports for 2023 were 14.49 billion U.S. dollars, a minor decline of 0.39 percent compared to 2022, data from the Export Development Board (EDB) showed on Monday.

The EDB said that cumulative merchandise exports in 2023 decreased by 9.54 percent to 11.85 billion dollars, compared to 2022.

On the other hand, the estimated value of services exports in 2023 increased by 63.1 percent compared to 2022, the EDB said.

The service imports for 2023 were around 3.1 billion dollars, the EDB said.

Earnings from the export of apparel and textiles, rubber and rubber-finished products, coconut and coconut-finished products, and seafood are among those that decreased.

Meanwhile, earnings from the export of tea, spices and concentrates, electronics and electronic components, and food and beverages had increased, the EDB said.