01Key Takeaways
- Sri Lanka exported $12.05 billion worth of goods in 2023, down 11.3% from $13.59 billion in 2022, the most recent year with verified trade data available in this dataset.
- Apparel led every export category by a wide margin, with knitted garments at 22.6% ($2.73 billion) and woven garments at 14.6% ($1.75 billion) together making up more than a third of total exports.
- The United States was Sri Lanka's largest export market, absorbing 23.2% of exports, worth $2.79 billion.
- The top three export partners together accounted for 37.4% of total export value.
025-Year Trend
| Year | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Value | $12.0B | $10.7B | $13.3B | $13.6B | $12.1B |
03Top Export Markets (2023)
| Rank | Partner | Value | Share |
|---|---|---|---|
| 1 | United States | $2.8B | 23.2% |
| 2 | United Kingdom | $861.1M | 7.1% |
| 3 | India | $860.8M | 7.1% |
| 4 | Italy | $684.3M | 5.7% |
| 5 | Germany | $603.9M | 5.0% |
| 6 | United Arab Emirates | $390.1M | 3.2% |
| 7 | Netherlands | $348.1M | 2.9% |
| 8 | France | $311.8M | 2.6% |
| 9 | Canada | $296.4M | 2.5% |
| 10 | China | $268.6M | 2.2% |
04Top Export Categories (2023)
| Rank | Category | Value | Share |
|---|---|---|---|
| 1 | Articles of Apparel and Clothing Accessories, Knitted or Crocheted | $2.7B | 22.6% |
| 2 | Articles of Apparel and Clothing Accessories, not Knitted or Crocheted | $1.8B | 14.6% |
| 3 | Coffee, Tea, Mate and Spices | $1.7B | 13.8% |
| 4 | Rubber and Articles thereof | $941.0M | 7.8% |
| 5 | Natural or Cultured Pearls, Precious or Semi-Precious Stones, Precious Metals, Metals Clad with Precious Metal, and Articles thereof; Imitation Jewellery; Coin | $429.5M | 3.6% |
| 6 | Electrical Machinery and Equipment and parts thereof; Sound Recorders and Reproducers, Television Image and Sound Recorders and Reproducers, and Parts and Accessories of such Articles | $382.6M | 3.2% |
| 7 | Mineral Fuels, Mineral Oils and Products of their Distillation; Bituminous Substances; Mineral Waxes | $380.4M | 3.2% |
| 8 | Nuclear Reactors, Boilers, Machinery and Mechanical Appliances; Parts thereof | $293.5M | 2.4% |
| 9 | Fish and Crustaceans, Molluscs and other Aquatic Invertebrates | $291.3M | 2.4% |
| 10 | Preparations of Vegetables, Fruit, Nuts or other parts of Plants | $204.0M | 1.7% |
05Trade Partner Map
06Analysis
Export Value Eased in 2023 After Two Years of Growth
Sri Lanka exported $12.05 billion worth of goods in 2023, down 11.3% from $13.59 billion in 2022. This is the most recent year with verified trade data available in this dataset. The dataset covers a full five years, from 2019 through 2023. Trade activity across this window reflects a mix of global demand swings and disruptions common to many exporting economies during this period.
Export value stood at $11.97 billion in 2019. It fell to $10.71 billion in 2020, the low point of this five-year window. It then climbed for two consecutive years in a row. Export value reached $13.33 billion in 2021 and $13.59 billion in 2022, before easing back to $12.05 billion in 2023.
This dataset does not explain the 2020 decline, the two-year rebound that followed, or the 2023 pullback. Export value in 2023 nonetheless remained above every year in this window except the two years right before it. A decline of 11.3%, arriving right after two years of growth, still leaves the export base well above where it stood in 2019 and 2020. The five-year pattern traces a shallow dip, a sharp recovery, and then a partial pullback. It is not a steady climb or a steady decline in one direction.
Apparel and Tea Anchor a Concentrated Export List
Apparel and clothing accessories dominated Sri Lanka's export list in 2023. Textile and clothing industries have remained the country's largest export earner for decades, a position reflected in the categories leading this list. Knitted or crocheted garments led all categories at 22.6% of total value, worth $2.73 billion. Garments that are not knitted or crocheted followed at 14.6%, worth $1.75 billion. Together, the two apparel categories made up more than a third of total export value. That leading position has held across market cycles, making apparel the most consistent single pillar of export earnings rather than a category prone to sudden swings.
Coffee, tea, mate and spices ranked third at 13.8%, worth $1.67 billion, a category built substantially around the country's tea exports. Rubber and articles thereof followed at 7.8%, worth $941.03 million. Precious stones, metals and jewellery rounded out the top five at 3.6%, worth $429.48 million. Both tea and rubber draw on long-established agricultural bases rather than on newer, more volatile industries.
Electrical machinery and equipment contributed 3.2% ($382.57 million), and mineral fuels added a nearly identical 3.2% ($380.38 million), a close pair in the middle of this list. Machinery and mechanical appliances followed at 2.4% ($293.52 million), and fish and crustaceans added another 2.4% ($291.25 million). Preparations of vegetables, fruit and nuts closed out the top ten at 1.7%, worth $204.04 million, the smallest share among the ten categories listed here. Apparel and tea sit far above the rest of this list. That gap describes an export base concentrated in a small number of long-established industries rather than spread evenly across many sectors. A list this concentrated at the top, paired with a long tail of smaller categories, is typical of smaller export economies built around a handful of specialized industries.
The United States Leads a Partner List Anchored in the West
The United States was Sri Lanka's largest export market in 2023, taking 23.2% of exports, worth $2.79 billion. United Kingdom ranked second at 7.1%, worth $861.11 million, closely followed by India at 7.1%, worth $860.79 million. Together, these top three partners accounted for 37.4% of total export value.
Italy contributed 5.7% ($684.27 million), and Germany added 5.0% ($603.89 million), rounding out the top five partners. United Arab Emirates followed at 3.2% ($390.13 million), and Netherlands added 2.9% ($348.15 million). These five partners span Western Europe and the Gulf, describing a partner base that reaches well beyond a single region even below the top three.
France contributed 2.6% ($311.80 million), and Canada followed closely at 2.5% ($296.44 million). China closed out the top ten at 2.2%, worth $268.57 million, the smallest share among the ten partners listed here. Canada and China round out a list where North America and Asia each hold a single entry, with the remaining eight positions split between Europe and the Middle East. The gap between the United States and every other partner is wide. No single European or Asian market comes close to matching US demand for Sri Lankan goods, a pattern consistent with apparel's dominant share of the export list above.
Taken together, this dataset's most recent confirmed year describes an export profile built around apparel and tea, sold overwhelmingly to a partner base still led by a single dominant market in the United States.