Economy

Sri Lanka’s exports surge to US$ 6.9 Bn in first five months of 2025

Published

10 months ago

June 27, 2025

Sri Lanka’s export sector demonstrated remarkable resilience and steady progress during the first five months of 2025, with total exports reaching US$6,933.35 million, marking a robust 7.14% growth compared to the same period in 2024.

According to the Export Development Board (EDB), total exports, including both merchandise and services, reached US$1,386.66 million in May 2025. This shows an impressive year-on-year growth of 6.35% over May 2024, reflecting the resilience of Sri Lanka’s export sector and the positive impact of strategic efforts to diversify markets and enhance competitiveness.

In May 2025 alone, merchandise exports grew by 1.70 % year-on-year, reaching US$1,028.52 million, according to provisional data of Sri Lanka Customs, including the estimates for Gems & Jewellery and Petroleum Products. For the period January to May 2025, merchandise exports totalled US$5,344.23 million, reflecting a 5.46% increase compared to the same period in 2024.

Meanwhile, services exports have emerged as a key driver of overall export growth. In May 2025, earnings from services exports were estimated to be US$358.14 million. Over the first five months of the year, services exports are estimated to have increased by 13.20%, totalling US$1,589.12 million. This trend highlights the rising importance of Sri Lanka’s knowledge-based economy and its growing contribution to national export earnings.

The services export sector, comprising ICT/BPM, Construction, Financial services, and Transport & Logistics, continues to diversify Sri Lanka’s export portfolio and create high-value employment opportunities across the Island.

Economy

Sri Lanka literacy hits record 97.4%, gender gap closes for first time

Published

3 hours ago

April 12, 2026

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Sri Lanka has achieved a historic education milestone, with literacy rising to 97.4% in 2024, up from 95.7% in 2012.

For the first time since 1881, the literacy gender gap has closed, with males at 97.9% and females at 97.0%.

Digital literacy has reached 67.6%, while computer literacy stands at 34.7%, highlighting Sri Lanka’s growing digital transformation.

Economy

$ 900 m in four months: Port City Colombo signals new investment era

Published

1 day ago

April 11, 2026

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From November 2025 to March, Port City Colombo secured approximately $ 900 million in investments, an almost unprecedented surge for a project that had seen gradual traction in its early years amid broader macroeconomic challenges. The timing is not accidental.

After a prolonged period marked by the Easter Sunday attacks, the global shock of the COVID-19 pandemic, and Sri Lanka’s economic collapse, the project remained largely in a holding pattern.

International marketing efforts began to gain momentum from late 2025 onwards, as conditions began to stabilise.

“The macro story had to align first,” Aluwihare explained. “You cannot market a country when the fundamentals are unstable. Now, we are seeing recovery, policy alignment, and growing confidence, and we are finally seeing the results.”

From real estate to a ring-fenced financial ecosystem

Port City Colombo’s most significant transformation has been conceptual rather than physical. Originally envisioned as a waterfront real estate development, it has evolved into a fully ring-fenced services export Special Economic Zone (SEZ), enabled by the Colombo Port City Economic Commission Act.

Economy

Sri Lanka’s Official Reserves fall 3.5%in March – CBSL

Published

3 days ago

April 9, 2026

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Sri Lanka’s Official Reserve Assets have decreased by 3.5% to USD 7,019 million in March 2026, according to the latest data of the Central Bank of Sri Lanka.

The CBSL states that the decrease is from USD 7,270 million reported in February 2026.

The CBSL further states that the figure for March includes the swap arrangement with the People’s Bank of China.