Economy

Sri Lanka Exports Surge Past USD 7.3 Bn In Five Months

Published

13 hours ago

July 8, 2026

Sri Lanka has generated export earnings exceeding USD 7.3 billion during the first five months of the year, reflecting a strong performance by the country’s export sector, according to the Export Development Board (EDB).

The figure represents a 7.5 percent increase compared to the corresponding period last year.

Speaking on the latest export performance, Export Development Board Chairman Mangala Wijesinghe said Sri Lanka’s apparel, coconut-based products and rubber sectors have emerged as some of the most significant contributors to export earnings growth.

Wijesinghe noted that the apparel industry continues to be the country’s leading export earner, generating USD 2.063 billion during the first five months of the year.

Speaking about the industry’s future prospects, he said Sri Lanka has set an ambitious target of earning more than USD 8 billion in export revenue from the apparel sector within the next five years.

The EDB Chairman also highlighted the strong performance of coconut-based exports, which generated approximately USD 512 million during the first five months of the year.

Economy

Sri Lanka Customs exceeds first-half revenue target, collects Rs. 1.37 trillion

Published

2 days ago

July 7, 2026

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The Sri Lanka Customs Department has generated Rs. 1.3737 trillion in revenue during the period up to June 30 this year, exceeding its revenue target for the first six months.

Economy

Sri Lanka named world’s best island destination for 2026

Published

5 days ago

July 3, 2026

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Sri Lanka has been ranked the world’s best island destination to visit in 2026, according to the latest rankings released by international travel publication Big 7 Travel.

Sri Lanka secured the top spot among the 50 Best Islands to Visit, with the publication highlighting the country’s 833-mile coastline, picturesque central highlands, world-renowned tea plantations, rich cultural heritage and remarkable biodiversity as the key factors behind its ranking.

The report also noted that iconic attractions such as Yala National Park and Sigiriya, a UNESCO World Heritage Site, played a significant role in earning Sri Lanka the top position.

In a further boost for the country’s tourism sector, Unawatuna Beach was ranked 26th among the world’s 50 Best Beaches, according to the report.

Economy

World Bank upgrades Sri Lanka to upper middle income status

Published

7 days ago

July 2, 2026

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The World Bank Group has reclassified Sri Lanka as an Upper Middle Income country, moving it up from Lower Middle Income status following a reported 5% real GDP growth in 2025.

The classification change places Sri Lanka among economies with higher income levels, reflecting recent improvements in macroeconomic performance and growth momentum after a period of economic stress.

The World Bank Group uses four income categories to classify countries: High Income, Upper Middle Income, Lower Middle Income, and Low Income. These classifications are based on gross national income per capita and are updated annually.

Sri Lanka’s upgrade marks a notable shift in its economic standing within this global framework, following the rebound in growth recorded in 2025.