Reimagining Sri Lanka’s Export Basket | A Tribute To EDB’s 46-Year Legacy

On the occasion of the Sri Lanka Export Development Board’s 46th anniversary, it is fitting to reflect on the nation's progress in exports and the untapped potential that lies ahead. Since the EDB’s establishment in 1979, it has been at the heart of Sri Lanka’s export journey, guiding policy, supporting businesses and backing Sri Lankan brands globally. Today, as we confront new global challenges and opportunities, it is time to reimagine our export basket, going beyond tea and garments and build a diversified, innovation-driven and future-ready export economy.

Rethinking Traditional Dependence

For over four decades, garments and tea have formed the backbone of Sri Lanka’s exports. In 2024, apparel & textile accounted for around $5 billion, while Ceylon tea contributed approximately $1.4 billion to export revenue. These sectors continue to support thousands of livelihoods and carry significant heritage value. However, global market shifts, rising input costs and increasing demand for sustainability now expose the vulnerabilities of relying on a limited export base. The EDB has long recognized this, and its continuous efforts to promote product diversification and market expansion are more relevant than ever.

High-Potential Sectors to Watch

Sri Lanka’s ICT and Business Process Management (BPM) sector is emerging as a key growth engine, earning $1.2 billion in 2023. With EDB’s facilitation of global trade fairs and market linkages, local companies are expanding into areas like fintech, AI, legal services and cloud platforms. The sector showcases how knowledge exports can reshape Sri Lanka’s global economic footprint.

Another rising star is boat and shipbuilding, particularly for small vessels and marine engineering. Sri Lanka’s coastline, technical expertise and investment-ready ports make it ideal for exports to Africa, the Middle East and ASEAN.

Processed food and spices, a sector long supported by the EDB through branding campaigns and certifications, is another area of promise. Sri Lanka is the world’s largest exporter of true cinnamon. With growing demand for health-conscious foods, value-added products like organic coconut milk, herbal teas, turmeric capsules and jackfruit-based meat substitutes offer high-return opportunities.

Becoming South Asia’s Logistics and Trade Hub

Thanks to its location, Sri Lanka is already a prominent transshipment and logistics hub. The Colombo Port, one of Asia’s busiest, handled 7.2 million TEUs in 2023. Infrastructure improvements at Hambantota Port and the emergence of Port City Colombo are paving the way for Sri Lanka to become the preferred gateway for East–West trade.

To fully harness this potential, the country must streamline customs, adopt digital border management systems, and promote bonded warehousing, multimodal transport hubs and re-export processing zones. The EDB’s support for trade facilitation and buyer networking plays a vital role in this transformation.

Niche and Creative Industries

The EDB has actively promoted niche industries, including handloom textiles, batik fashion and artisanal home décor through various initiatives and assistance to rural artisans. These products appeal strongly to global markets seeking ethical and handmade goods. With the right certification (such as GI - Geographical Indication) and e-commerce access, they can compete in premium segments in Europe, Japan and North America.

Additionally, the creative economy is an emerging space where Sri Lanka can export talent and ideas. Digital animation, gaming and content production offer potential for job creation and foreign revenue, especially with industry matchmaking and global outreach.

Blue Economy and Green Exports

The EDB has also begun facilitating export growth in sustainable marine resources and green innovation. Sri Lanka’s blue economy including sustainable fisheries, ornamental fish breeding, and aquaculture, can be expanded through modern technology and environmentally sound practices.

In parallel, green exports such as biodegradable packaging, upcycled fashion, solar-powered solutions and eco-label products are finding growing global demand. These align with the Sri Lanka’s commitments to climate action and SDG (Sustainable Development Goals) targets.

Building a Strong Support System

Over the past 46 years, the EDB has been central to developing the systems, policies and networks needed to support exporters and potential exporters, especially SMEs. Initiatives such as market access programs, capacity-building workshops and product certification support have enabled thousands of businesses to enter and grow in foreign markets.

To take the next leap, Sri Lanka must now enhance export financing tools, support innovation grants and fast-track trade negotiations with ASEAN, the UK and African blocs. Diaspora networks too can be leveraged to bridge markets and elevate the Sri Lankan brand overseas.

Honoring the Past & Shaping the Future

As the Sri Lanka Export Development Board celebrates its 46th anniversary, it is clear that Sri Lanka’s export journey is entering a new chapter, one that must be shaped by resilience, creativity and ambition. Moving beyond traditional exports is not a rejection of legacy but a tribute to it by adapting to global realities and ensuring that Sri Lankan products and services continue to make their mark across the world.

With the EDB’s continued leadership, Sri Lanka can transform from a narrow commodity exporter into a diversified, tech-savvy, sustainable and globally competitive economy. It’s not just about adding new products, it’s about building a new export identity that reflects the talent, values and vision of our island nation.

Wishing the Sri Lanka Export Development Board a happy 46th anniversary and continued success in shaping a bold new export future!

By Chandima Wanniarachchi | Global Dispatch