Sri Lanka's Export Surge: A Beacon of Economic Recovery

Sri Lanka's exports grew by nearly 6% in Q1 2025, with total exports reaching USD 4,212.13 million. Service exports, driven by the knowledge-based economy, saw robust growth. Despite economic recovery, the World Bank warns of poverty risks for a significant portion of the population.

Sri Lanka's exports have experienced a notable increase of nearly 6% in the first quarter of 2025, according to the export development board. Total exports reached USD 4,212.13 million, showcasing a resilient growth trajectory compared to the same period last year.

In March, the export figures, including merchandise and services, totaled USD 1,507.90 million, marking a significant 6.24% year-on-year rise. The merchandise export sector alone reached USD 1,215.9 million, reflecting a 5.87% growth year-on-year, based on provisional data from Sri Lanka Customs.

Meanwhile, the World Bank's recent update highlights that, despite the remarkable economic recovery in 2024, a third of Sri Lanka's population remains in poverty or at risk of falling into poverty, underlining ongoing challenges amid a moderate expected growth rate in 2025.

(With inputs from agencies.)