In 2022, Sri Lanka's imports amounted to $17.3 billion, a -19.5% year-on-year decline from the 2021 total of $21.5 billion.

Sri Lanka's Key Suppliers Of Imported Products

According to Tendata iTrader data, Sri Lanka imports products mainly from the following countries: India (26.5% of Sri Lanka's total imports), China (20.4%), United Arab Emirates (5.5%), Malaysia (5%), Singapore (4.2%), United States (2.29%), Taiwan (2.28%), Pakistan ( 2.09%), Russia (2.04%), Indonesia (1.93%), Thailand (1.75%) and Germany (1.72%).

Sri Lanka's Top 10 Imports

1. mineral fuels including petroleum: $3.9 billion (22.4% of total imports)

2. machinery including computers: $1.1 billion (6.1%)

3. Electrical machinery and equipment: $984.6 million (5.7%)

4. Knitted or crocheted fabrics: $886.7 million (5.1%)

5. Plastics, plastic products: $726.2 million (4.2%)

6. Cotton: $666.6 million (3.9%)

7. Grains: $594.2 million (3.4%)

8. Paper, paper products: $450.4 million (2.6%)

9. Iron and steel: $409.6 million (2.4%)

10. Rubber, rubber products: US$ 399.7 million (2.3%)

Among the top ten import categories, Sri Lanka's imports of fossil fuels, including petroleum, grew by 14.2% from 2021 to 2022. Cereals accounted for the second largest growth in imports (up 12.5%), mainly from rice imports.

The largest year-on-year declines were in Sri Lanka's imports of iron and steel (down -62.5% from 2021), electrical machinery and equipment (down -43.1%), machinery including computers (down -42.3%), rubber. Materials plus articles made of rubber (down -26.6%), followed by knitted or crocheted fabrics (down -20.9%).

The HTS code shows that the ten most valuable imports purchased by Sri Lanka in 2022 are refined petroleum (16.6% of Sri Lanka's total imports), fabrics other than warp knit (3%), crude oil (2.1%), coal (including solid) fuel made from coal (also 2.1%), wide knitted or crocheted fabrics (1.8%), rice (1.7%), woven fabrics ( 1.6%), synthetic filament yarn (1.5%), petroleum gas (1.4%), and then sugar (also 1.4%).

The value of Sri Lanka's exports to the world in 2022 is estimated at $12.8 billion. This figure represents a decrease of -4.2% from $13.3 billion in 2021.

In general, a wide range of garments dominate many of Sri Lanka's most valuable exports.

Purchasing Countries Of Sri Lanka's Major Exports

According to Tendata iTrader data, Sri Lanka's exports are mainly purchased by the following countries: the United States (26% of Sri Lanka's total exports), the United Kingdom (7.6%), India (6.7%), Germany (5.8%), Italy (5%), the Netherlands (3.4%), Canada (2.8%), the United Arab Emirates (2.7%), Belgium (2.4%), France (2.4%), and the United States (2.4%). 2.4%), France (2.02%), Australia (1.99%) and Mainland China (1.98%).

Sri Lanka's Top 10 Exports

1. knitted or crocheted garments, accessories: $3.4 billion (26.5% of total exports)

2. Clothing, accessories (not knitted or crocheted): $2.1 billion (16.4%)

3. Coffee, tea, spices: $1.6 billion (12.3%)

4. Rubber, rubber products: $1 billion (8%)

5. Gems, precious metals: $399.8 million (3.1%)

6. Electrical machinery, equipment: $373.7 million (2.9%)

7. Fish: $290.8 million (2.3%)

8. Fossil fuels, including oil: $283.2 million (2.2%)

9. paper yarn, woven fabrics: $211.7 million (1.7%)

10. Fruits, nuts: $210.5 million (1.6%)

Gemstones and Precious Metals are the fastest growing of Sri Lanka's top 10 exports, growing by 15.7% from 2021 to 2022. Unstrung gemstones or semi-precious stones were the main contributor to the growth. The second fastest growing export product is fossil fuels including petroleum with a growth of 11.8%. Sri Lanka's exports of non-knitted and non-crocheted garments or accessories grew the third fastest, by 6.2%.

The largest decline in Sri Lanka's top ten export categories was in the category of Coffee, Tea and Spices, which fell by -14% year-on-year. Sri Lanka's coffee export sales are down -11.3% since 2021.

Tea, including flavored varieties, is Sri Lanka's most valuable export according to HTS codes, accounting for 9.7% of the island nation's total exports. In second place were women's knitted or crocheted underwear and nightwear (5.3%), followed by non-knitted and non-crocheted bras and corsets (5%), knitted or crocheted T-shirts and undershirts (4.8%), non-knitted and non-crocheted women's clothing (4%), non-knitted and non-crocheted women's dresses (3.8%), non-knitted and non-crocheted men's blazers or pants (3.4%), second-hand or retreaded rubber tires ( 3.3%), knitted or crocheted gloves and mittens (2.9%)), followed by men's knitted or crocheted underwear and pajamas (2.4%).

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