Economy

Sri Lanka’s exports hit US$ 10 billion mark in first seven months of 2025

Published

8 months ago

August 25, 2025

Sri Lanka’s total export earnings in the first seven months of 2025 have soared to nearly US$ 10 billion, according to the Central Bank of Sri Lanka (CBSL and Sri Lanka Customs metrics.

Total exports including both merchandise and services reached US$ 9,992.53 million between January and July 2025, the CBSL noted.

This marks a robust 7.79% increase compared to the same period last year, reinforcing the country’s strategic gains in global trade.

Industry experts attribute this strong performance to proactive policy measures, enhanced market diversification efforts, and competitive improvements across key export sectors.

Accordingly, with five months still remaining in the year, the country appears on track to surpass the US$ 17 billion export target set for 2025, Mangala Wijesinghe, Chairman and Chief Executive Officer of the Export Development Board (EDB) stated.

In July 2025, merchandise exports grew by 15.37 % year-on-year, reaching US$ 1,304.0 million, according to provisional data of Sri Lanka Customs including the estimates for Gems & Jewellery and Petroleum Products.

For the period January to July 2025, merchandise exports totaled US$ 7,799.82 million, reflecting a 7.22 % increase compared to the same period in 2024.

Meanwhile, services exports have emerged as a key driver of overall export growth.

In July 2025, earnings from services exports were estimated to be US$ 337.11 million.

Over the first seven months of the year, services exports are estimated to have increased by 9.86 %, totaling US$ 2,192.71 million.

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.

Furthermore, the estimated value of ICT/ BPM exports is expected to increase by 7.23 % to US$ 897.49 million during the period of January to July 2025 when compared to the corresponding period of 2024.

In addition, the estimated value of Logistics & transport services is expected to increase by 21.24 % to US$ 1,195.25 million during the period of January to July 2025 when compared to the corresponding period of 2024, according to the latest figures issued by the CBSL.

Economy

Sri Lanka to Launch First Digital Motor Insurance Card from May 1

Published

1 day ago

April 25, 2026

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Sri Lanka’s Ministry of Finance, Planning, and Economic Development has announced that the country’s first digital motor insurance card will be introduced from May 1.

The Ministry stated that this initiative represents a significant step toward advancing national digitalization while also enhancing public safety.

By replacing physical plastic cards, the move is also expected to contribute to environmental sustainability across the country.

The Ministry added that the digital motor insurance card will be officially launched in collaboration with the Insurance Regulatory Commission of Sri Lanka, the Insurance Association of Sri Lanka, and the Sri Lanka Police.

Economy

Sri Lanka Confirms Hackers Diverted USD 2.5M Meant for Australian Debt Repayment

Published

3 days ago

April 24, 2026

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Sri Lanka’s Ministry of Finance has revealed that cyber hackers infiltrated the computer system of the External Resources Department, leading to the fraudulent diversion of a foreign debt repayment of nearly USD 2.5 million intended for Australia.

Addressing the issue, Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance, said the intrusion was first detected in January 2026, when officials became aware that hackers had attempted to gain unauthorized access to the External Resources Department’s systems and compromise them. Upon identifying the threat, the Ministry immediately alerted law‑enforcement authorities.

He said reports were lodged with the Sri Lanka Computer Emergency Readiness Team (SL‑CERT) and the Computer Crimes Investigation Division of the Sri Lanka Police to investigate the attempted system breach. In parallel, ministry officials instructed the External Resources Department to conduct an internal review to determine whether any further damage had occurred beyond the initial incident.

Subsequent investigations revealed that the cyberattack had taken place earlier than first detected. A review of previous months’ transactions uncovered that hackers had intercepted email communications linked to a government‑to‑government debt repayment involving Australia.

Economy

Hackers hit Sri Lanka Finance Ministry as USD 2.5M storm erupts

Published

4 days ago

April 23, 2026

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The Government is facing scrutiny following reports that $ 2.5 million (nearly Rs. 800 million) of Treasury funds was diverted during a foreign debt repayment, with the amount yet to reach the intended creditor country.

The funds were part of a bilateral payment to Australia amounting $ 22.9 million, with settlement due in September 2025.

The Treasury has appointed a Technical Investigation Committee to probe a suspected fraudulent payment involving $ 2.5 million linked to a bilateral transaction with Australia. The committee includes two Deputy Secretaries to the Treasury and will be co-chaired by A.N. Hapugala and S.S. Mudalige. The other members are National Planning Department Director General K.T.I. Premaratne, Legal Affairs Department Additional Director General A.K.D.D. Arandara, and Information Technology Management Department Assistant Director E.D. Shirantha.

The Committee has been tasked with probing the risk of fraudulent payment instructions received via email, which may have contributed to the disappearance of the funds remitted to Australia. It has been directed to carry out a comprehensive investigation into the incident and submit its report at the earliest.

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