Sri Lanka May 2026 export revenue jumps over 18-pct: EDB

Wednesday June 24, 2026 1:27 pm ECONOMYNEXT – Sri Lanka’s goods and services exports expanded by over 18 percent in May this year to US$ 1,570 million, the Export Development Board (EDB) data showed. The merchandise exports in May 2026 amounted to US$ 1,223.5 million, reflecting an 18.3 percent increase compared to May 2025. The services export earnings recorded US$ 347.2 million in May 2026 with an increase of 18.7 percent compared to the same period last year. In total, Sri Lanka’s exports for May 2026 reached US$ 1,570.6 million, recording a 18.3 percent year-on-year growth compared to May 2025. “Sri Lanka’s export sector has demonstrated strong resilience and sustained growth momentum in 2026,” said Mangala Wijesinghe, Chairman and Chief Executive Officer of the EDB. The estimated export earnings of US$ 7,393.4 million, recording a 7.6% growth compared to the corresponding period in 2025. Wijesinghe said the launch of the National Export Development Plan (NEDP) 2026–2030 marks a significant milestone in Sri Lanka’s journey towards building a more competitive, diversified, and sustainable export economy. “The continued growth in merchandise exports and the expanding contribution of services exports demonstrate the potential of Sri Lanka’s export ecosystem,” he said. “Through the strategic implementation of the newly launched NEDP, strengthening market access, promoting innovation, and enhancing exporter capabilities, the EDB is committed to supporting Sri Lankan businesses in achieving higher export growth and advancing the country’s vision of becoming a globally competitive export hub.” Despite policy efforts to restructure the economy, Sri Lanka’s export sector faces severe structural bottlenecks and deep-seated barriers that limit its global competitiveness. Historically, the country’s high-inflation environment, currency depreciation, expensive energy, and rigid interest-rate adjustments have increased the cost of domestic borrowing, inadvertently choking the credit growth and capital formation needed for local manufacturers to scale. The lack of robust institutional coordination, weak policy continuity, and inadequate financial incentives has also left the nation’s export base heavily concentrated in a few traditional fields, failing to foster high-value technology sectors or value-added production. This is compounded by an unfavourable ease-of-doing-business climate and bureaucratic red tape that discourage productive foreign direct investment, while global vulnerabilities like imported energy price surges and supply chain disruptions continue to raise production costs. Analysts say the country requires aggressive structural transformations, enhanced productivity, and a shift away from protective or artificial subsidies toward an environment that naturally fosters international efficiency to break through the limitations. (Colombo/June 24/2026)