Cinnamon Export Statistics from Sri Lanka to the World in 2023

Insights (Data Below)

The 2023 export landscape for Sri Lankan cinnamon and cinnamon tree flowers paints a clear picture of where demand for this prized spice is flourishing. At the top of the list, Mexico stands out as the leading importer, accounting for a whopping LKR 30.79 billion worth of cinnamon, making up 44.91% of Sri Lanka’s total cinnamon export value. Nearly half of Sri Lanka’s cinnamon exports in 2023 went to this one country - a remarkable figure that underscores Mexico’s growing appetite for the spice.

Cinnamon's Growing Influence in the Americas

The United States follows in second place with imports valued at LKR 9.13 billion (13.31%), with Peru coming in third at LKR 7.67 billion (11.18%). Combined, these three countries - Mexico, the U.S., and Peru - account for nearly 70% of Sri Lanka's total cinnamon exports, signaling a strong demand for the spice in North and South America. This concentration of exports reflects how much the region values Sri Lanka’s world-renowned cinnamon.

What’s interesting is the growing role of Guatemala, Ecuador, and Bolivia - all making the top 10 - further highlighting Latin America’s increasing reliance on Sri Lankan cinnamon. These nations collectively strengthen the region’s dominance as a top destination for cinnamon exports, driven largely by the spice’s versatility in Latin American cuisines.

Opportunities in Nearby Markets

Surprisingly, India, a close neighbor and a significant global spice market, only ranks fifth with LKR 2.14 billion (3.13%) in cinnamon imports from Sri Lanka. This relatively modest figure hints at untapped potential for growth in the Indian market, where demand for cinnamon is robust but not fully realized in terms of trade with Sri Lanka.

Even more striking is the low ranking of China, which imported just LKR 23,764 worth of cinnamon - an almost negligible share given China’s vast market size. This suggests enormous growth opportunities for Sri Lanka, should it decide to focus more on building demand for its cinnamon in China.

Diversification Beyond Key Markets

While Mexico alone absorbs nearly half of Sri Lanka’s cinnamon exports, European countries like Germany, Spain, and the United Kingdom - though smaller players - remain consistent and reliable markets. These nations, along with Japan and Australia, contribute to Sri Lanka's broader export portfolio, helping mitigate risk in the event of fluctuations in demand from larger buyers.

Conclusion

In 2023, Sri Lanka’s cinnamon exports were heavily concentrated in Latin America and the U.S., particularly Mexico. As the nation continues to enjoy a growing demand for its cinnamon in these regions, opportunities remain for Sri Lanka to expand its reach - particularly in India and China, where the potential for increased trade remains significant. The cinnamon trade is booming, but the road ahead holds ample opportunity for diversification and market expansion.