ශ්රී ලංකා ප්රජාතාන්ත්රික සමාජවාදී ජනරජයේ කොන්සියුලේට් ජනරාල් කාර්යාලය ටොරොන්ටෝ
டொரொண்டோவிலுள்ள இலங்கை ஜனநாயக சோசலிஸ்ட் குடியரசின் தலைமை தூதரக அலுவலகம்
Consulate General of the Democratic Socialist Republic of Sri Lanka in Toronto
Sri Lanka – Canada Economic Relations
Sri Lanka’s Trade Relations with Canada
Canada remains an important trade and investment partner for Sri Lanka, with strong bilateral cooperation in trade, tourism, investment, and people-to-people connections. The trade balance has consistently remained in favour of Sri Lanka, driven largely by apparel exports, tea, coconut-based products, and rubber products.
Bilateral Trade Overview
Trade Performance (2021–2025)
| Year | Exports (US$ Mn) | Imports (US$ Mn) | Total Trade (US$ Mn) | Trade Balance | Import Coverage (%) |
|---|---|---|---|---|---|
| 2021 | 312.99 | 119.11 | 432.10 | 193.88 | 262.77 |
| 2022 | 360.83 | 101.89 | 462.72 | 258.94 | 354.14 |
| 2023 | 293.77 | 124.06 | 417.83 | 169.71 | 236.80 |
| 2024 | 320.19 | 103.09 | 423.28 | 217.10 | 310.59 |
| 2025 | 317.08 | 123.84 | 440.92 | 193.24 | 256.04 |
Key Highlights
- Sri Lanka’s exports to Canada reached US$ 317.08 million in 2025.
- Imports from Canada increased by approximately 20% in 2025.
- Sri Lanka maintained a positive trade balance throughout the period.
- Canada was Sri Lanka’s 8th largest export destination in 2025.
Major Sri Lankan Exports to Canada (2024)
| Product | Value (US$ Mn) | Share (%) |
|---|---|---|
| Apparel | 196.28 | 61.30 |
| Retreaded Rubber Tyres | 14.87 | 4.64 |
| Vegetable Textile Fibres | 11.71 | 3.66 |
| Printed Circuits | 8.67 | 2.71 |
| Tea | 6.26 | 1.96 |
| Vulcanised Rubber Products | 5.60 | 1.75 |
| Rubber Apparel & Gloves | 5.54 | 1.73 |
| Desiccated Coconut | 5.17 | 1.62 |
| Liquid Coconut Milk | 4.85 | 1.52 |
| Fresh Fish & Seafood | 4.49 | 1.40 |
Export Sector Insights
Apparel continued to dominate Sri Lanka’s exports to Canada, accounting for over 61% of total exports in 2024. Other growing sectors included:
- Coconut-based products
- Seafood exports
- Rubber-based industrial products
- Tea and value-added agricultural products
Major Imports from Canada
Leading Import Products (2024)
| Product | Value (US$ Mn) | Share (%) |
|---|---|---|
| Wheat & Meslin | 37.40 | 36.28 |
| Diamonds | 22.91 | 22.22 |
| Dried Leguminous Vegetables | 11.99 | 11.63 |
| Newsprint | 5.06 | 4.91 |
| Plastics & Articles Thereof | 4.71 | 4.57 |
| Electronic Integrated Circuits | 1.94 | 1.89 |
Import Sector Insights
Canada remained an important supplier of:
- Wheat and grains
- Industrial machinery
- Agricultural commodities
- Electronic components
- Paper and packaging materials
Preferential Trade Access
Canada’s General Preferential Tariff (GPT) scheme, introduced in 1974, continues to support Sri Lankan exports to the Canadian market. The latest scheme is effective from 2025–2034.
Sri Lanka’s Exports under GPT Scheme
| Year | Value (US$ Mn) |
|---|---|
| 2017 | 90.47 |
| 2018 | 71.36 |
| 2019 | 73.55 |
| 2020 | 61.05 |
| 2021 | 87.91 |
| 2022 | 84.88 |
| 2023 | 72.90 |
| 2024 | 89.86 |
Potential Areas for Export Expansion
Sri Lanka has significant potential to further expand exports to Canada in the following sectors:
- Ceylon Tea
- Coconut Milk & Coconut-based Products
- Fruit Beverages
- Seafood (Tuna, Shrimp & Prawns)
- Apparel & Fashion Products
- Rubber-based Products
- Industrial Gloves & Protective Wear
Canadian Investment in Sri Lanka
Investment Overview
- Sri Lanka and Canada signed a Double Taxation Avoidance Agreement on 23 June 1982.
- Canada was Sri Lanka’s 19th largest FDI partner in 2024 (Q3).
- Total Canadian investment in Sri Lanka from 2005–2024 amounted to approximately US$ 194 million.
Key Investment Trends
| Year | Investment (US$ Mn) |
|---|---|
| 2014 | 41.53 |
| 2016 | 40.24 |
| 2018 | 29.30 |
| 2023 | 2.27 |
| 2024 Q3 | 1.02 |
Investment Sectors
Canadian investments in Sri Lanka have included:
- Manufacturing
- Tourism & Hospitality
- Infrastructure
- Services
- Technology-related industries
Tourism Relations
Canada remains an important tourism source market for Sri Lanka.
Tourist Arrivals from Canada
| Year | Arrivals |
|---|---|
| 2018 | 52,681 |
| 2019 | 48,729 |
| 2020 | 12,436 |
| 2021 | 5,079 |
| 2022 | 26,845 |
| 2023 | 43,944 |
| 2024 | 42,212 |
| 2025 | 46,133 |
Tourism Highlights
- Canadian arrivals recorded strong post-pandemic recovery.
- 2025 marked the highest number of Canadian arrivals since COVID-19.
- Sri Lanka continues to attract Canadian travellers seeking:
- Nature and wildlife
- Wellness and Ayurveda
- Beaches and adventure tourism
- Culture and heritage experiences
Looking Ahead
Sri Lanka and Canada continue to enjoy strong bilateral relations supported by growing trade, tourism, investment, and business partnerships. Emerging opportunities in sustainable products, value-added agriculture, tourism, and technology are expected to further strengthen economic cooperation between the two countries.
Important Business Associations promoting business links between Canada and Sri Lanka
Canada- Sri Lanka Business Convention - https://www.csbconvention.org/
Canadian Chamber of Commerce in Sri Lanka - https://www.canchamlk.com/
Important Trade Investment Tourism Events in Canada
Trade
Toronto Tech Week, May 25-29, 2026, Toronto, ON www.torontotechweek.com
North American Tea Conference, September 22-24, 2026, Niagara-on-the Lake, ON www.tea.ca/natc2026
CHFA Now Conference & Trade Show September 25-27, 2026, Toronto, ON www.chfanow.ca
Grocery Innovations Canada, October 27-28, 2026, Toronto, ON www.groceryinnovations.com
Restaurants Canada, March 7-9, 2027, Missasauga, ON www.rcshow.restaurantscanada.org
SIAL Canada, April 27-29, 2027, Toronto,ON www.sialcanada.com
Investment
PADC 2027 Mineral Exploration & Mining Convention, March 7-10, 2027,Toronto
https://pdac.ca/convention-2027
Tourism
International Tourism and Travel Show 2026, 30th October-01st November 2026, Montreal
Vancouver International Travel Expo, 10th October 2026, Vancouver, www.vitexpo.ca
The Outdoor Adventure Show, February 19-21, 2027, Mississauga, ON, www.outdooradventureshow.ca
