By The Pulseline News Desk
Sri Lanka’s export sector closed out the first half of 2026 on a high note, with combined merchandise and services earnings pushing past the $9 billion mark for the January-June period, according to figures released by the Export Development Board (EDB). The numbers point to broad-based growth, a reshuffling of the country’s top export markets, and a June that outperformed the rest of the half-year by a wide margin.
Six months of steady gains
Total exports for the first half of the year reached an estimated $9,012.24 million, marking an 8% rise over the same period in 2025. The growth was driven predominantly by merchandise trade, which climbed 8.95% year-on-year to $7,073.31 million. Services exports contributed a smaller but still meaningful gain, rising 4.49% to $1,938.94 million.
EDB Chairman and CEO Mangala Wijesinghe pointed to the figures as evidence that Sri Lankan exporters have continued to hold their ground even as global market conditions shift, describing the performance as a sign of the sector’s resilience and competitiveness.
June provides the standout month
If the first half of the year told a story of steady expansion, June told one of acceleration. Merchandise exports for the month alone jumped 15.09% year-on-year to $1,314.10 million, while services exports grew a more modest 3.75% to $344.52 million. Combined, total exports for June came in at $1,658.62 million — a 12.53% increase over June 2025, and comfortably the sector’s strongest single-month showing referenced in the half-year update.
Winners and laggards by sector
The sectoral breakdown reveals a mixed but broadly positive picture. In June, growth was concentrated in electrical and electronic components, food and beverages, rubber-based products, spices and essential oils, seafood, mineral products, ornamental fish, and ICT/BPM services. Apparel and textiles, tea, and coconut-based products, by contrast, posted declines for the month.
Looking at the first half of the year as a whole, the pattern shifts slightly. Electrical and electronic components, coconut-based products, rubber-based products, processed food and beverages, seafood, and ICT/BPM services all recorded notable growth over the six-month period — meaning coconut-based products managed a strong first half despite a weak June. Apparel and textiles and tea remained under pressure across both windows, while spices and essential oils, strong in June, registered an overall decline for the half-year.
A shifting map of export markets
Perhaps the most structurally significant development was on the demand side. India overtook the United Kingdom to become Sri Lanka’s second-largest export destination, a shift that reflects deepening trade ties between the two countries. Alongside India, China, Turkey, Japan, and Mexico all posted positive growth in both June and the first half of the year, suggesting exporters found traction across a diversified set of markets rather than relying on any single destination.
The United States, traditionally one of Sri Lanka’s largest markets, held broadly stable over the first six months — neither a major drag nor a standout contributor to the half-year’s growth.
The bigger picture
Taken together, the data suggests an export sector that is diversifying both in terms of products and markets, even as legacy strengths like apparel, textiles, and tea continue to face headwinds. With electronics, food processing, rubber products, and ICT/BPM services all pulling their weight, and India’s rise reshaping the market mix, the second half of 2026 will be watched closely to see whether June’s momentum can be sustained — and whether the sectors currently lagging can find their footing.
Leave a comment