Sri Lanka’s total exports reach USD 1.4 billion in February: EDB

Sri Lanka’s total exports, including both merchandise and services, reached US$ 1,401.78 million in February 2026, reflecting a notable year-on-year growth of 4.22% compared to February 2025, according to the Sri Lanka Export Development Board (EDB).

Based on provisional data from Sri Lanka Customs, along with estimated figures for Gems & Jewellery and Petroleum Products, merchandise exports for February 2026 increased by 1.32% to US$ 1,066.88 million, the EDB added.

Meanwhile, services exports have demonstrated strong momentum, with earnings estimated at US$ 334.9 million, marking a significant 14.68% increase over the corresponding month in 2025.

On a cumulative basis, total exports for the period January to February 2026 are estimated at US$ 2,896.31 million, recording a notable growth of 7.56% compared to the same period in 2025.

The continued expansion in export earnings highlights the resilience of Sri Lanka’s external sector, supported by steady merchandise performance and accelerated growth in services exports, the EDB said.

Commenting on this achievement, Mangala Wijesinghe, the Chairman and Chief Executive Officer of the Sri Lanka Export Development Board (EDB), stated:

“Sri Lanka’s export earnings for February 2026 reached US$ 1,401.78 million, recording a solid year-on-year growth of 4.22% and signaling a positive trajectory toward achieving our annual export targets.
 
This performance reflects the resilience and increasing competitiveness of Sri Lanka’s export sector, underpinned by the gradual recovery in key international markets, sustained industrial capacity, and the continued implementation of targeted export development initiatives.
 
Looking ahead, with strengthened policy support, enhanced value addition, and proactive market diversification, Sri Lanka is poised to build on this momentum throughout 2026, even amid ongoing geopolitical tensions and energy market volatility.”

Further analysis indicates that cumulative merchandise export earnings amounted to US$ 2,215.63 million during January–February 2026, reflecting a 5.22% increase compared to the corresponding period in 2025.

Meanwhile, services exports maintained a strong upward trajectory, recording an estimated 15.95% growth during the same period, reaching US$ 680.68 million.

The EDB noted that the robust expansion highlights the increasing importance of Sri Lanka’s knowledge-based economy and its growing contribution to national export earnings. The services sector,comprising ICT/BPM, Construction, Financial Services, and Transport & Logistics, continues to play a pivotal role in diversifying the country’s export base while generating high-value employment opportunities across the economy.

Meanwhile, among the top ten export markets, the United Arab Emirates, China, Australia, and Mexico demonstrated positive year-on-year growth both in February 2026 and cumulatively for the January–February period, indicating emerging market resilience, according to the EDB.

The United States, the largest single export destination for Sri Lanka, accounting for around 22% of total merchandise exports, recorded a marginal decline of 0.3% to US$ 239.8 million in February 2026, with cumulative exports for January–February 2026 also marginal down by 0.61% to US$ 497.65 million compared to the same period in 2025.

India consolidated its position as Sri Lanka’s second-largest export destination, surpassing the United Kingdom, with exports growing by 16.21% to US$ 192.01 million during January–February 2026, despite a temporary dip in February. Meanwhile, exports to the United Kingdom declined by 1.86% to US$ 149.44 million over the same period, reflecting weaker performance in this key European market.

Exports to the European Union (EU), which represent 24% of Sri Lanka’s total merchandise exports, increased by 2.86% in February 2026. However, during the cumulative period from January to February 2026, they declined by 6.42%
Exports to the top five EU markets were recorded as; Italy US$ 104.89 Mn (increased by 10.17 %), Germany US$ 104.29 Mn (decreased by 5.93 %), Netherlands US$ 66.82 Mn (decreased by 4.67 %), France US$ 40.47 Mn (decreased by 4.39 %) and Belgium US$ 38.67 Mn (increased by 1.5 %) during the cumulative period of January to February 2026 in comparison to the corresponding period in 2025, according to the Sri Lanka Export Development Board.