Year over year, the value of Sri Lanka’s import purchases accelerated by 14.3% from $16.3 billion starting from 2023.
Based on the average exchange rate for 2024, the Sri Lanka rupee depreciated by -8.5% against the US dollar from 2023 to 2024. Sri Lanka’s weaker local currency makes its imports paid for in stronger US dollars relatively more expensive for Sri Lankan buyers starting from the Sri Lanka rupee.
Sri Lanka’s Major Suppliers for Imported Products
The latest available country-specific data shows that 56.3% of products imported into Sri Lanka was shipped by exporters in: United States of America (13.9% of the Sri Lankan total), mainland China (10.7%), Germany (5.9%), United Kingdom (3.4%), Japan (3.08%), France (3.07%), India (2.91%), Hong Kong (2.9%), Netherlands (2.63%), South Korea (2.62%), Mexico (2.6%) and Italy (2.55%).
Applying a continental lens, surpassing four-fifths (81.6%) of Sri Lanka’s total imports by value was purchased from fellow Asian countries. Trade partners in Europe supplied 11.9% of import sales to Sri Lanka while another 3.1% worth of products originated from North America.
Smaller percentages came from exporters in Oceania (2.3%) led by New Zealand and Australia, Africa (0.7%), then Latin America (0.6%) excluding Mexico plus the Caribbean.
Given Sri Lanka’s population of 22.9 million people, its total $18.6 billion in 2024 imports translates to roughly $825 in yearly product demand from every person in the island nation. That dollar metric surpasses the average $750 per capita during 2023.
Sri Lanka’s Top 10 Imports
The following product groups represent the highest dollar value in Sri Lanka’s import purchases during 2024. Also shown is the percentage share each product category represents in terms of overall imports into Sri Lanka.
- Mineral fuels including oil: US$4 billion (21.5% of total imports)
- Machinery including computers: $1.5 billion (7.9%)
- Electrical machinery, equipment: $1.2 billion (6.2%)
- Knit or crochet fabric: $952.1 million (5.1%)
- Plastics, plastic articles: $682.2 million (3.7%)
- Cotton: $597.6 million (3.2%)
- Iron, steel: $572.4 million (3.1%)
- Cereals: $466.8 million (2.5%)
- Pharmaceuticals: $457.7 million (2.5%)
- Vegetables: $439.3 million (2.4%)
Sri Lanka’s top 10 imports generated almost three-fifths (58%) of the overall value of its product purchases from international suppliers.
Among its top 10 import categories, Sri Lankan purchases of machinery including computers rose 41.4% from 2023 to 2024.
The second-greatest increase was for Sri Lanka’s spending on cereals (up 30.5%) led by rice, corn and wheat.
In third place were imports of plastics, both as materials and items made with plastic, recording a 25.9% year-over-year advance ahead of imported vegetables (up 25%).
The decliners from 2023 were Sri Lanka’s imports of pharmaceuticals (down -18.3% from 2023) far ahead of mineral fuels including oil (down -0.9%).
Please note that the results listed above are at the 2-digit Harmonized Tariff System (HTS) code level.
Information presented below at the more granular 4-digit HTS code level.
By value, the top 10 most valuable imported products bought by Sri Lanka during 2024 were processed petroleum oils (13.4% of Sri Lanka’s total), crude oil (4.2%), fabrics other than warp-knit (2.8%), medication mixes in dosage (2.1%), wide-knit or crocheted fabrics (also 2.1%), petroleum gases (2%), sugar (also 2%), coal including solid fuels made from coal (1.7%), wheat (1.6%) then derricks and cranes (1.4%).
Sri Lanka’s Main Imports of Mineral Fuels and Related Products
In 2024, Sri Lankan importers spent the most on the following 10 subcategories of fossil fuel-related products.
- Processed petroleum oils: US$2.5 billion (up 7% from 2023)
- Crude oil: $776.5 million (down -16.2%)
- Petroleum gases: $376.6 million (up 32.2%)
- Coal, solid fuels made from coal: $316.4 million (down -32%)
- Petroleum oil residues: $26.5 million (up 52.9%)
- Petroleum jelly, mineral waxes: $4.8 million (down -8.8%)
- Coal tar oils (high temperature distillation): $4.7 million (up 21.9%)
- Coke, semi-coke: $865,000 (down -79%)
- Distilled tar: $214,000 (up 2957.1%)
- Peat: $122,000 (up 205%)
Among these import subcategories, Sri Lankan purchases of distilled tar (up 2,957%), peat (up 205%) then petroleum oil residues (up 52.9%) grew at the fastest pace from 2023 to 2024.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported fossil fuel-related among Sri Lankan businesses and consumers.
Sri Lanka’s Main Imports of Machinery Including Computers
In 2024, Sri Lankan importers spent the most on the following 10 subcategories of machinery including computers.
- Derricks, cranes: US$259.4 million (up 2360.7% from 2023)
- Computers, optical readers: $123.2 million (up 26.1%)
- Air conditioners: $70.1 million (up 229.1%)
- Turbo-jets: $56.7 million (down -72.1%)
- Air or vacuum pumps: $55.8 million (up 66.4%)
- Printing machinery: $52.5 million (up 60%)
- Taps, valves, similar appliances: $48.6 million (up 17.6%)
- Refrigerators, freezers: $47.5 million (up 101.6%)
- Sewing machines, related furniture: $38.5 million (up 65.9%)
- Industrial preparation machinery: $37.2 million (up 103.9%)
Among these import subcategories, Sri Lankan purchases of derricks and cranes (up 2361%), air conditioners (up 229.1%) then industrial preparation machinery (up 103.9%) grew at the fastest pace from 2023 to 2024.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Sri Lankan businesses and consumers.
Sri Lanka’s Main Imports of Electrical Products
In 2024, Sri Lankan importers spent the most on the following 10 subcategories of electrical items including consumer electronics.
- Phone devices including smartphones: US$242.6 million (up 23.8% from 2023)
- Electric motors, generators: $130.8 million (up 162.5%)
- Electrical converters/power units: $101.5 million (up 58.4%)
- TV receivers/monitors/projectors: $75.1 million (up 107%)
- Lower-voltage switches, fuses: $56.5 million (up 13.3%)
- Insulated wire/cable: $55.1 million (up 13.1%)
- Electric storage batteries: $49.1 million (up 31.8%)
- Solar power diodes/semi-conductors: $48.7 million (up 28.8%)
- Unrecorded sound media: $42.5 million (up 25.8%)
- Electrical/optical circuit boards, panels: $42 million (down -4.5%)
Among these import subcategories, Sri Lankan purchases of electric motors and generators (up 162.5%), television receivers, monitors and projectors (up 107%) then electrical converters or power units (up 58.4%) grew at the fastest pace from 2023 to 2024.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Sri Lankan businesses and consumers.
Sri Lanka’s Main Imports of Knitted or Crocheted Fabrics
In 2024, Sri Lankan importers spent the most on the following subcategories of knitted or crocheted fabrics.
- Other than warp-knit fabrics: US$514.6 million (up 19.5% from 2023)
- Wide knit or crochet fabrics: $384.8 million (up 26%)
- Warp knit fabrics: $30.3 million (up 12.2%)
- Pile/terry fabrics: $19.6 million (up 26%)
- Narrow knit or crochet fabrics: $2.1 million (up 145.2%)
- Other knit/crochet fabrics: $729,000 (down -16.5%)
Among these import subcategories, Sri Lankan purchases of narrow knit or crochet fabrics (up 145.2%), pile or terry fabrics (up 26%) then wide knit or crochet fabrics (up 26%) grew at the fastest pace from 2023 to 2024.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of knitted or crocheted fabrics bought by Sri Lankan importers.
See also Sri Lanka’s Top 10 Exports, Tea Exports by Country Plus Average Prices, Top US Trading Partners, United Kingdom’s Top Trading Partners and India’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook report on South Asia: Sri Lanka. Accessed on October 17, 2025
EXCHANGE-RATES.org Sri Lanka Rupee (LKR) to US Dollar, Exchange Rate History. Accessed on October 17, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on October 17, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on October 17, 2025
International Trade Centre, Trade Map. Accessed on October 17, 2025
Investopedia, Net Exports Definition. Accessed on October 17, 2025
United States Census Bureau, Foreign Trade . Accessed on October 17, 2025
Wikipedia, Gross domestic product. Accessed on October 17, 2025
Wikipedia, List of Companies of Sri Lanka. Accessed on October 17, 2025
Wikipedia, Purchasing power parity. Accessed on October 17, 2025