Individually, the most valuable Sri Lankan export is tea. Cinnamon, refined petroleum oils and new rubber tires also appear among Sri Lanka’s highest value exports.
The following list shows on which product categories Sri Lankan exporters generated the most revenue. Unlike most information currently available on the web, the items below are detailed at the 4-digit tariff code level.
Such granularity can help entrepreneurs identify more precisely which products for which Sri Lanka enjoys strong demand and competitive advantages compared with other nations. Innovation can transform these insights into lucrative business opportunities.
For the most recent year’s details, please see the paragraph at the bottom of the “Top 10” tab section in Sri Lanka’s Top 10 Exports article. For a link to that article, see the See also paragraph above Research Sources below.
Highest Value Sri Lankan Export Products
Below are the 20 highest value export products delivered to Sri Lanka’s international customers during 2017. Shown within brackets is the change in value for each exported product over the most recent 5-year period.
- Tea (including flavored): US$1.5 billion (up 20.9% since 2016)
- Bras, corsets (not knit or crochet): $599.2 million (up 5.8%)
- Women’s underwear, pajamas (knit or crochet): $582.2 million (down -4.1%)
- Women’s clothing (knit or crochet): $495.9 million (up 3.2%)
- Women’s clothing (not knit or crochet): $467 million (up 1%)
- T-shirts, vests (knit or crochet): $437 million (down -3.2%)
- Men’s suits, trousers (not knit or crochet): $391.2 million (up 12.4%)
- Rubber tires (used/retread): $329.1 million (up 3.2%)
- Processed petroleum oils: $294.6 million (up 86.2%)
- Gloves, mitts (knit or crochet): $292.4 million (up 13.2%)
- Men’s shirts (not knit or crochet): $216 million (up 4.1%)
- Cinnamon: $202.5 million (up 27.3%)
- Clothing, accessories (vulcanized rubber): $198.2 million (up 12.6%)
- Infant clothing (knit or crochet): $192.4 million (down -7.8%)
- Light vessels, fire boats, floating docks: $183.4 million (up 6696.6%)
- Rubber tires (new): $182.2 million (up 15.7%)
- Men’s underwear, pajamas (knit or crochet): $179 million (up 8.7%)
- Women’s shirts (not knit or crochet): $172.1 million (up 8.1%)
- Jerseys, pullovers (knit or crochet): $170 million (down -14.3%)
- Precious/semi-precious stones (unstrung): $153.4 million (up 72.3%)
Light vessels, fireboats and floating docks posted the greatest increase in Sri Lankan export sales with a 6,697% gain from 2013 to 2017.
In second place were exported processed petroleum oils from Sri Lankan refineries via an 86.2% increase.
Exports of precious or semi-precious stones showed a respectable gain in 2017, up 72.3% from 2016.
Leading the decliners were knit or crochet jerseys and pullovers (down -14.3%) and knit or crochet infant clothing (down -7.8%).
Encompassing all products, Sri Lankan exports appreciated 11.3% year over year.
See also Sri Lanka’s Top 10 Exports and Sri Lanka’s Top 10 Imports
Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on May 29, 2018
The World Factbook, Field Listing: Exports and World Population, Central Intelligence Agency. Accessed on May 29, 2018
Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on May 29, 2018