COLOMBO, Jan. 27 (Xinhua) -- Sri Lanka achieved a record-breaking total export revenue of over 16 billion U.S. dollars in 2024, according to the latest data released Monday by the country's Export Development Board (EDB).

This marks a 7.06 percent increase year on year.

The 2024 revenue surpassed the previous highest-ever export earnings of 15.72 billion dollars recorded in 2018, the EDB said.

The 2024 revenue includes 12.7 billion dollars from merchandise exports and 3.46 billion dollars from services exports, according to the EDB.

Merchandise export earnings for December 2024 reached 1.04 billion dollars, a 4.06 percent increase compared to December 2023, which was attributed to higher earnings from apparel and textiles, tea, rubber-based products, coconut-based products, spices and concentrates, and food and beverages, the EDB said.

Services exports for December 2024 were estimated at 322.92 million dollars, reflecting a significant 29.96 percent increase over the corresponding period in 2023.