Sri Lanka’s Export Performance in December 2022
Earnings from the merchandise exports decreased by 9.7 % y-o-y to US$ 1,044 Mn in December 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the decrease in export earnings from Apparel & Textiles, Tea, Rubber based Products, and Coconut based Products, Food & Beverages, Spices & Essential Oils and Fisheries products.
The reason for this decline was due to the ongoing recession in major markets due to rising cost of production, energy etc. Imports declined sharply due to inflation and demand for goods & services are reduced.
