President Anura Kumara Dissanayake has unveiled a roadmap to grow Sri Lanka’s exports by up to USD 6 billion, betting on coconut, food and beverage, rubber and tea to drive an export-led recovery. 

However, the targets will hinge less on policy promises and more on fixing structural problems that have held back industry for years.

By the numbers:

Coconut-based exports are expected to double to $2 billion within two years.

Food and beverage exports are projected to reach $1 billion in the same period.

Value-added rubber exports could approach USD 3 billion over the longer term, under the National Export Development Plan (2026-2030).

What he’s saying:

President Dissanayake has pledged incentives, regulatory reforms, streamlined import procedures and stronger policy support to boost investment and value-added manufacturing.

His focus on net foreign exchange earnings — rather than gross export value — signals a more pragmatic approach, prioritising lower imported inputs alongside stronger domestic production.

Yes, but:

Industry leaders say policy support alone won’t cut it.

Rubber – Local manufacturers currently get only half the raw material they need. Expanding cultivation requires land, investment and years before new plantations turn productive. Tyre makers also warned that rising imports are eroding the competitiveness of local producers.

Tea – Middle East instability has driven up shipping costs and delays, hitting exports to Iran, a traditional market. Meanwhile, more than 480,000 smallholder tea growers need better access to fertiliser, quality planting material and productivity support.

The obstacles:

Exporters across sectors flagged a familiar list of constraints — delayed VAT refunds, regulatory bottlenecks, slow commercialisation of research, labour shortages and inconsistent policy implementation.

Worth watching:

The government’s proposal to encourage industries to set up in the Northern Province could support regional development, but its success will depend on infrastructure, skilled labour and efficient logistics falling into place.

The bottom line:

Sri Lanka’s export ambitions make sense given its debt burden and need for foreign exchange. But unless the Government turns commitments into real reforms and builds a stable policy environment, the USD 6 billion target risks staying an aspiration rather than a milestone. 

(Source-Sri Lanka travel)