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Boat and Ship Building Sector to reach USD$100 Bn mark this year

Sri Lanka’s export sector has once again demonstrated remarkable resilience despite global economic uncertainties, geopolitical tensions, supply chain disruptions and evolving market requirements.Sri Lanka’s total export earnings exceeded Rs.US$ 17 billion in 2025, reflecting continued growth in both merchandising and service exports, National Chamber of Exporters (NCE) President Indhra Kaushal Rajapaksa told the NCE Export Awards 2026, 34th consecutive editionapplication launch ceremony held on July 6 in Colombo.

“This is a significant achievement and a testament to the determination, innovation and competitiveness of our exporters.Several sectors made outstanding contributions to this performance,” he said.

Rajapaksa said apparel and textile continued to be Sri Lanka’s largest export sector, with earnings over $5 billion.While Sri Lanka’s world-renowned tea industry remained one of the flagship export earners, strong performance was also recorded by the coconut products sector.

“These sectors have continued to diversify Sri Lanka’s export passport and strengthen our position in international markets.Sri Lanka’s export performance in 2026, from January to May has maintained strong growth momentum during the first five months of 2026, demonstrating resilience despite global economic uncertainties and geopolitical disruptions.

Overall performance January to May, the five months, we hadtotal merchandise services exports ofUS$7.39 billion which is about 7.56% more than last year. Service exports of US$1.63 billion again 7.38% more than last year and total exports are about 18.34% more than last year.

The key highlights include the total export earnings exceeded US$ 7.3 billion during the first five months.Merchandise exports continue to account for approximately 78% of total exports.Service exports continue their rapid expansion, particularly ICT, BPM, logistics, construction and financial services. May 2026 recorded one of the strongest monthly export performances in recent years, reflecting improved global demand and stronger export competitiveness.The boat and ship building sector industry continues to remain one of Sri

Lanka’s rich high-value export sectors. It is not the boat building and ship building only, it covers the nautical horizon too.And we are expecting the boat and ship building sector to reach USD$100 billion this year.

The industry stakeholders expect the sector to continue growing through increased value addition and penetration into premium international markets. Rajapaksa said it is in this context that NCE Export Awards play an even more meaningful role and for over three decades, these awards have inspired exporters to strive for excellence,embrace innovation, improve competitiveness and benchmark themselves against the very best in the industry.

Winning an NCE Export Award has become the hallmark of excellence and symbol of credibility not only within Sri Lanka but also in the international markets, he added.

The application closing date is September 30 and the main event will be held on Friday, December 1, 2026.Associated Newspapers of Ceylon Limited (ANCL)(Lake House) is the print media sponsor of the event.

Source: Daily News

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