Year over year, the value of Sri Lanka’s import purchases declined by -19.5% from a total $21.5 billion for 2021.
Sri Lanka’s Major Suppliers for Imported Products
The latest available country-specific data shows that 75.7% of products imported into Sri Lanka were shipped by exporters in: India (26.5% of the Sri Lankan total), mainland China (20.4%), United Arab Emirates (5.5%), Malaysia (5%), Singapore (4.2%), United States of America (2.29%), Taiwan (2.28%), Pakistan (2.09%), Russia (2.04%), Indonesia (1.93%), Thailand (1.75%) and Germany (1.72%).
Applying a continental lens, more than four-fifths (81.1%) of Sri Lanka’s total imports by value were purchased from fellow Asian countries. European trade partners supplied 11.7% of import sales to Sri Lanka while another 2.9% worth of goods originated from North America.
Smaller percentages came from exporters in Oceania (2.1%) led by New Zealand and Australia, Africa (1.9%), then Latin America (0.4%) excluding Mexico plus the Caribbean.
Given Sri Lanka’s population of 22.4 million people, its total $17.3 billion in 2022 imports translates to roughly $770 in yearly product demand from every person in the island nation. That dollar metric falls below the average $800 per capita during 2021.
Sri Lanka’s Top 10 Imports
The following product groups represent the highest dollar value in Sri Lanka’s import purchases during 2022. Also shown is the percentage share each product category represents in terms of overall imports into Sri Lanka.
- Mineral fuels including oil: US$3.9 billion (22.4% of total imports)
- Machinery including computers: $1.1 billion (6.1%)
- Electrical machinery, equipment: $984.6 million (5.7%)
- Knit or crochet fabric: $886.7 million (5.1%)
- Plastics, plastic articles: $726.2 million (4.2%)
- Cotton: $666.6 million (3.9%)
- Cereals: $594.2 million (3.4%)
- Paper, paper items: $450.4 million (2.6%)
- Iron, steel: $409.6 million (2.4%)
- Rubber, rubber articles: $399.7 million (2.3%)
Sri Lanka’s top 10 imports generated almost three-fifths (58.1%) of the overall value of its product purchases from international suppliers.
Among its top 10 import categories, Sri Lankan purchases of mineral fuels including oil rose 14.2% from 2021 to 2022.
The only other top product category to show greater Sri Lanka’s spending is cereals (up 12.5%) mostly arising from rice imports.
Leading the year-over-year decliners were Sri Lanka’s imports of iron or steel (down -62.5% from 2021), electric machinery and equipment (down -43.1%), machinery including computers (down -42.3%), rubber both as a material plus items made from rubber (down -26.6%), then knitted or crocheted fabric (down -20.9%).
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 2022 were refined petroleum oils (16.6% of Sri Lanka’s total), fabrics other than warp-knit (3%), crude oil (2.1%), coal including solid fuels made from coal (also 2.1%), wide-knit or crocheted fabrics (1.8%), rice (1.7%), woven fabrics (1.6%), synthetic filament yarn (1.5%), petroleum gases (1.4%), then sugar (also 1.4%).
Sri Lanka’s Main Imports of Mineral Fuels and Related Products
In 2022, Sri Lankan importers spent the most on the following 10 subcategories of fossil fuel-related products.
- Processed petroleum oils: US$2.9 billion (up 34.5% from 2021)
- Crude oil: $368.3 million (down -24.8%)
- Coal, solid fuels made from coal: $362.7 million (up 22.4%)
- Petroleum gases: $243.9 million (down -34.4%)
- Petroleum oil residues: $25.9 million (down -73.1%)
- Coal tar oils (high temperature distillation): $6.6 million (down -25.4%)
- Petroleum jelly, mineral waxes: $5.8 million (up 16.2%)
- Coke, semi-coke: $2 million (up 179.6%)
- Asphalt/petroleum bitumen mixes: $159,000 (down -57.3%)
- Peat: $110,000 (up 64.2%)
Among these import subcategories, Sri Lankan purchases of coke or semi-coke (up 179.6%), peat (up 64.2%), then processed petroleum oils (up 34.5%) grew at the fastest pace from 2021 to 2022.
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 2022, Sri Lankan importers spent the most on the following 10 subcategories of machinery including computers.
- Computers, optical readers: US$113.8 million (down -61.1% from 2021)
- Miscellaneous machinery: $58.3 million (down -15.2%)
- Taps, valves, similar appliances: $46.7 million (down -26%)
- Rubber/plastic article making machines: $44.5 million (down -13.4%)
- Sewing machines, related furniture: $40.8 million (down -24.4%)
- Derricks, cranes: $36.8 million (up 164.3%)
- Centrifuges, filters and purifiers: $35.4 million (down -23.3%)
- Heavy machinery (bulldozers, excavators, road rollers): $34.6 million (down -65.2%)
- Air or vacuum pumps: $34.2 million (down -49.4%)
- Printing machinery: $30.3 million (down -56.3%)
Among these import subcategories, Sri Lankan purchases of derricks and cranes (up 164.3%) grew from 2021 to 2022.
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 2022, Sri Lankan importers spent the most on the following 10 subcategories of electrical items including consumer electronics.
- Phone devices including smartphones: US$169.4 million (down -73.8% from 2021)
- Integrated circuits/microassemblies: $85.2 million (up 65.1%)
- Electrical converters/power units: $72.7 million (down -30.4%)
- Electric sound/visual signal bells or alarms: $72.6 million (up 11.8%)
- Electric generating sets, converters: $70.9 million (up 33.3%)
- Lower-voltage switches, fuses: $57.5 million (down -22.5%)
- Electric motors, generators: $49.4 million (down -18.9%)
- Insulated wire/cable: $42.6 million (down -42.2%)
- Electric storage batteries: $42.1 million (down -7.1%)
- Solar power diodes/semi-conductors: $38.8 million (down -28.6%)
Among these import subcategories, Sri Lankan purchases of integrated circuits and microassemblies (up 65.1%), electric generating sets or converters (up 33.3%), then electric sound, visual signal bells or alarms (up 11.8%) grew from 2021 to 2022.
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 2022, Sri Lankan importers spent the most on the following 10 subcategories of knitted or crocheted fabrics.
- Other than warp-knit fabrics: US$519.8 million (down -9.8% from 2021)
- Wide knit or crochet fabrics: $310.3 million (down -34.7%)
- Pile/terry fabrics: $28.2 million (down -29.3%)
- Warp-knit fabrics: $26.4 million (up 0.5%)
- Narrow knit or crochet fabrics: $1.2 million (down -46.8%)
- Other knit/crochet fabrics: $880,000 (down -54.2%)
Among these import subcategories, Sri Lankan purchases of warp-knit fabrics: (up 0.5%) grew from 2021 to 2022.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of iron and steel 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 May 28, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on May 28, 2023
International Trade Centre, Trade Map. Accessed on May 28, 2023
