📈 Brazil-Sri Lanka Trade Target set at US$ 1 Bn by 2030

Brazilian President Luiz Inácio Lula da Silva and President Anura Kumara Dissanayake have reaffirmed commitments to deepen bilateral trade and technical cooperation, aiming to expand two-way trade five-fold to US$ 1 Bn by 2030. • Trade Performance (2025): • Bilateral trade reached US$ 199.5 Mn in 2025. • Sri Lankan exports to Brazil dropped 13.2% YoY to US$ 73.5 Mn. • Imports from Brazil surged 77.5% YoY to US$ 126 Mn, turning Sri Lanka's historic trade surplus into a US$ 52.5 Mn deficit. • Peak export year was 2024 at US$ 84.6 Mn. • Key Sectors & Bilateral Focus: • Key exports to Brazil currently include apparel & textiles, pneumatic/rubber tyres, and fuel oil. • High export potential identified for desiccated coconut, cinnamon, rubber gloves, and light vessels. • Main imports from Brazil: synthetic rubber, sugar, and paper. • Technical Cooperation & Future Ties: • Agreements finalized for a Dairy Livestock Project and a Sugarcane Project supported by the Brazilian Cooperation Agency (ABC). • New sectors identified: agriculture, animal husbandry, ports and shipping, and sports. • Trade under the GSTP scheme remains negligible at US$ 80,000 (2022).