Sri Lanka plans to increase annual exports to US$31.3b by 2027

COLOMBO: Sri Lanka’s Export Development Board (EDB) on Wednesday said it is developing a five-year strategic plan to increase the country’s annual exports to US$31.3 billion by 2027, reported Xinhua.

The EDB also plans to increase Sri Lankan exports to the country’s top 10 existing export markets by 10 per cent annually, and identify 10-15 potential new markets and increase Sri Lanka’s market share in them by 5 per cent annually.

The exports will be expanded by promoting customised value-added products and services to the identified niche markets at premium prices, the EDB said.

Earnings from exports in Sri Lanka surpassed US$13 billion in 2022 for the first time, recording an increase of 4.9 per cent from the highest recorded in 2021. –Bernama