Sri Lanka is projected to fall short of its 2025 export target of $18.2 billion, with total receipts expected to reach between $17 billion and $17.5 billion, Export Development Board (EDB) Chairman Mangala Wijesinghe said.
The shortfall comes amid external and domestic shocks, including adverse weather.
Speaking at the Sri Lanka Economic Summit’s panel discussion on investment, Wijesinghe said the country remains on track to achieve its $20 billion export target next year.
Over the first 10 months of 2025, merchandise and services exports reached $14.4 billion, a 6% increase compared with last year, signaling continued growth despite structural vulnerabilities.
Wijesinghe outlined plans to reduce Sri Lanka’s reliance on traditional commodities and apparel, which currently make up roughly 60% of export value, and raise the export sector’s share of GDP from 19% to 25% by 2030.
Priority “tier one” sectors for rapid expansion include ICT and business process management, logistics, electronics and electrical manufacturing, food and beverages, spices, and gems and jewelry. Mineral-based exports were identified as a high-potential “tier two” sector.
The EDB chief emphasised market diversification, noting that the US and Europe still account for nearly half of exports, while exports to African, Asian, and Middle Eastern markets have grown over 25% in the January-October period.
Strengthened economic diplomacy, including assigning performance targets to Sri Lanka’s foreign missions and reviewing existing free trade agreements, is part of the strategy to support a $36 billion export target by 2030.
Wijesinghe also highlighted policy reforms in the 2026 Budget aimed at modernizing tariffs, improving investor transparency, and streamlining trade through the National Single Window initiative, which has secured Rs. 2.5 billion in funding for online integration of key trade agencies.
The reactivated Export Development Council of Ministers, chaired by the President, will coordinate policy and oversee implementation of the National Export Development Plan 2026–2030.
“The goal is not only to boost revenue, but to transform the export sector into a more resilient and technologically advanced engine of the economy,” Wijesinghe said, stressing the importance of structural reform, product diversification, and market expansion.
The plan, prepared with support from the Asian Development Bank and extensive stakeholder consultations, is expected to be finalized and presented in January 2026, providing a roadmap for investment, skills development, and new-market penetration.
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