Economy

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

Published

1 year 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

Govt saving Rs. 5.7B through price regulation of 13 expensive medicines

Published

1 day ago

October 4, 2026

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The National Medicines Regulatory Authority (NMRA) says the government’s estimated savings from regulating the prices of 13 major high-priced medicines amount to Rs. 5.7 billion.

NMRA Chairman Specialist Dr. Ananda Wijewickrama made this statement at a media briefing held in Colombo today (01).

He further said that the savings to the public would vary depending on the medicines they purchase.

He noted that the medicines whose prices had been reduced are mainly those that patients require for long-term use.

Economy

CBSL Governor says Fitch upgrade reflects Sri Lanka’s progress on economic reforms

Published

6 days ago

September 29, 2026

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The Governor of the Central Bank Dr. Nandalal Weerasinghe said Sri Lanka’s sovereign rating upgrade by Fitch Ratings from ‘CCC+’ to ‘B-’ with a Stable Outlook reflects ongoing progress in macroeconomic stabilization and reforms.

Speaking at the 49th Annual General Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) on September 23, Dr. Weerasinghe stated that the restoration of stability following the severe economic crisis has provided a stronger foundation for the country’s next development phase.

“This progress has also been recognised by the upgrade of Sri Lanka’s sovereign rating by Fitch Ratings to ‘B-’ from ‘CCC+’, with a Stable Outlook, announced, reflecting the continued progress in macroeconomic stabilisation and reforms,” he added.

Economy

Sri Lanka ranked among top 10 global risers in tourism

Published

1 week ago

September 28, 2026

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Sri Lanka has been ranked among the top 10 countries in the world for the fastest improvement in the Travel and Tourism Development Index between 2024 and 2026, according to the 2026 Travel and Tourism Development Index released by the World Economic Forum (WEF).

Sri Lanka has been ranked 10th on the list, with its Travel and Tourism Development Index score increasing by 4.33% in 2026 compared to 2024.

Albania ranked first, recording a 7.0% increase in its index score.

Vietnam and Laos ranked second and third, respectively, with increases of 6.3% and 6.1% in their index scores.