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2023
Flag → Flag
Exports $653MRnk 5 / 200
2023
Flag → Flag
Top Product $149MOther Women's Undergarments
2023
Flag → Flag
Exports $245MRnk 100 / 219
2023
Flag → Flag
Top Product $70.9MLight Rubberized Knitted Fabric
2023
Flag
Economic Complexity (ECI) ECI -0.44Rnk 85 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag  
GDP$84.4BCURRENT US$
Rnk 75 / 195
2013-2023
Flag
GDP GROWTH9.55%CURRENT US$
Rnk 157 / 195
2023
Flag
 GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC $3,828CURRENT US$
Rnk 132 / 195
2013-2023
Flag
GDP PC GROWTH2.34%CURRENT US$
Rnk 150 / 195
2023
Flag
GDP PC$39,003CURRENT US$
Rnk 32 / 196
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

Sri Lanka-Italy Trade: In 2023, Sri Lanka exported $653M to Italy. The main products that Sri Lanka exported to Italy were Other Women's Undergarments ($149M), Knit Women's Undergarments ($104M), and Knit T-shirts ($56.8M). Over the past 5 years the exports of Sri Lanka to Italy have increased at an annualized rate of 4.96%, from $513M in 2018 to $653M in 2023.

In 2023, Sri Lanka did not export any services to Italy.

Italy-Sri Lanka Trade: In 2023, Italy exported $245M to Sri Lanka. The main products that Italy exported to Sri Lanka were Light Rubberized Knitted Fabric ($70.9M), Narrow Woven Fabric ($15.7M), and Non-Retail Synthetic Filament Yarn ($14.9M). Over the past 5 years the exports of Italy to Sri Lanka have decreased at an annualized rate of 3.69%,  from $296M in 2018 to $245M in 2023.

In 2023, Italy did not export any services to Sri Lanka.

Comparison: In 2023,  Sri Lanka ranked 85 in the Economic Complexity Index (ECI -0.44), and 90 in total exports ($13.8B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Sri Lanka exported $653M to Italy. The main products exported from Sri Lanka to Italy were Other Women's Undergarments ($149M), Knit Women's Undergarments ($104M), and Knit T-shirts ($56.8M). During the last 5 years the exports of Sri Lanka to Italy have increased at an annualized rate of 4.96%, from $513M in 2018 to $653M in 2023.

In 2018, Italy exported $245M to Sri Lanka. The main products exported from Italy to Sri Lanka were Light Rubberized Knitted Fabric ($70.9M), Narrow Woven Fabric ($15.7M), and Non-Retail Synthetic Filament Yarn ($14.9M). During the last 5 years the exports of Italy to Sri Lanka have decreased at an annualized rate of 3.69%, from $296M in 2023 to $245M in 2018.

Exports from Sri Lanka (Flag) to Italy (Flag) (2023)

Exports from Italy (Flag) to Sri Lanka (Flag) (2023)

Latest Data

Trade between Sri Lanka (Flag) and Italy (Flag)

Sri Lanka Exports

Date

Italy Exports

Market Competitiveness

Color
Sri Lanka
Top DestinationUnited States$2.98B
Italy
Top DestinationGermany$71.4B

This map shows whether countries import more from Sri Lanka or Italy. Each country is colored based on the difference in imports they receive from Sri Lanka and Italy or the difference in the growth in imports.

In 2023, countries that imported more from Sri Lanka than Italy included Maldives ($168M), American Samoa ($702k), and Kiribati ($64k).

In 2023, countries that imported more from Italy than Sri Lanka included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

Difference in imports from Italy (Flag) and Sri Lanka (Flag) (2023)

Comparative Advantage Sri Lanka - Italy

Flow
Scale

This chart compares trade between Sri Lanka and Italy by product, considering products traded by both, Sri Lanka and Italy.

During 2023, Sri Lanka had a large net trade with Italy in the exports of Textiles ($496M), Plastics and Rubbers ($46.3M), and Precious Metals ($32.8M).

During 2018, Italy had a large net trade with Sri Lanka in the exports of Textiles ($125M), Machines ($51.1M), and Foodstuffs ($17.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sri Lanka Italy+$14MKnit T-shirts
Top Product Potential Italy Sri Lanka+$2.24MVaccines, blood, antisera, toxins and cultures

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Sri Lanka and Italy. This means that a dot/product with the flag of Sri Lanka indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Sri Lanka.

Product Space of Sri Lanka (Flag) and Italy (Flag) (2023)

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