Sri Lanka targets US$18.5bn in goods, services exports in 2020

ECONOMYNEXT – Sri Lanka’s export promotion agency is targeting 18 billion US dollars in goods and services exports in 2020, up from 16.1 billion US dollars in 2019, officials said after seeing marginal growth during the year, officials said.

Merchandise exports grew 0.13 percent to 11,906 million dollars in 2019, and services exports grew 5.3 percent to 4,243 million dollars based on provisional data, the Export Development Board said.

For 2020, the agency is targeting 13.5 billion US dollars in merchandise exports and 5 billion US dollars in services exports.

EDB’s Director General Jeevani Siriwardena said 1,280 million US dollars in services exports came from information technology and business process outsourcing, 78 million from construction, 229 million from financial services.

Another 2,577 million dollars came from transport which include shipping, warehousing airlines and ports

Newly appointed EDB Chairman Prabhash Subasinghe, who owns a solid rubber manufacturing business said he was keen to diversify the country’s export basket, which has been relatively unchanged over the years.

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