This is a decrease of 14.94% when compared to the figure recorded in August 2023, the EDB said further, citing the provisional data released by Sri Lanka Customs.

In August 2023, Sri Lanka recorded over USD 1 billion in revenue from merchandise exports.

The decline in merchandise exports is attributed to the decreased demand for export products, particularly in sectors such as apparel and textiles; rubber and rubber-based products; and coconut and coconut-based products.

The cumulative merchandise exports during the first nine months of 2023 (from January to September) have meanwhile dropped by 10.31% to USD 8,961 million compared to the corresponding period of 2022.