Sri Lanka targets $ 1.5 billion in plastic and rubber exports by 2030
The Morning: Sri Lanka is targeting $ 1.5 billion in export revenue from its plastic and rubber industries by 2030, while strengthening environmental sustainability, with the Government planning to upgrade waste management and recycling systems in all newly developed industrial parks, Industry and Entrepreneurship Development Minister Sunil Handunnetti said in Rubexpo 2026 recently.Speaking at the event, Handunnetti said: “We view the plastic and rubber sectors as industries, integrated with other sectors, that contribute significantly to our export earnings. Our goal is to generate $ 1.5 billion in export revenue from this industry by 2030. We are placing special priority on recycling programmes when developing new industrial zones. So, we have decided that we need to upgrade the waste management and recycling systems in all newly constructed industrial parks.”“The sector generated nearly $ 945 million in export earnings in the last year,” he added.Meanwhile, according to the Export Development Board (EDB), in the first half of this year, Sri Lanka’s export earnings from rubber and rubber-based products reached around $ 492.32 million, reflecting a 5.24% increase year-on-year.Handunnetti said: “Sri Lanka is a small island nation, and its significance lies primarily in its status as a tourist destination, attracting over 2.3 million tourists annually from around the world. Therefore, preserving this beauty and safeguarding the valuable qualities of our biodiversity is of utmost importance to us.”“We are a nation that adheres to international environmental standards, also enjoying special opportunities for engagement with the European Union and other countries. We are pursuing industrialisation, while upholding our country’s environmental policies and standards at an international level,” he said.“We are particularly focused on integrating our industries, specifically the plastics and rubber sectors, by leveraging modern technology and coordinating policies with other organisations that play a key role,” Handunnetti stated.He also stated: “As a member of the Sector Advisory Committee, our country can now be utilised as a key hub within the supply chain.”“The issue for us is not the use of plastic and rubber, these materials are a reality, and they exist as industries, generate jobs, and bring in revenue and foreign exchange to the country and the real question is how to utilise it in an environmentally friendly manner,” he said.Handunnetti further added: “Today, the world has access to technology and methodologies for eco-friendly industries, however, the issue lies in our failure to adopt them. There was a time in our country when people did not pay much attention to such matters, but today, we can take pride in the fact that an international exhibition is being held here.”
OSL take:
Sri Lanka’s ambition to lift plastic and rubber export earnings to US$1.5 billion by 2030 is opening new business/investment opportunities for foreign businesses/investors across manufacturing, recycling and export-oriented value chains. The sector already generated nearly US$945 million in export earnings last year, while rubber and rubber-based exports reached US$492.32 million in the first half of 2026, up 5.24% year-on-year. For foreign businesses, the strongest opportunities lie in value-added rubber manufacturing, plastic products, specialised industrial components and recycling technologies. Investors can also explore joint ventures with established Sri Lankan manufacturers to introduce new technologies, expand production capacity and access international markets. The Sri Lankan Government’s plan to strengthen waste-management and recycling facilities in new industrial parks creates an additional opportunity in plastic collection, recycling, recycled-material manufacturing and circular-economy solutions. With Sri Lanka seeking to expand exports while meeting international environmental standards, investments that combine advanced manufacturing with sustainable production and recycling could position foreign companies to benefit from the country’s growing export ambitions and access to markets including the EU.
| Article Code : | VBS/AT/20260907Z_3 |