Sri Lanka is at a fascinating point in its development, with an economy transitioning from low to middle income.
While recent export data has been disappointing, Sri Lanka’s trade business is at a crucial point. Traditional exporters in sectors such as agriculture (tea, coconut, rubber) and apparel are evolving at a pace that shames many of the country’s neighbouring states.
With a highly educated workforce and a strategically important location – given its proximity to India, its place along the shipping route that connects Asia with Africa and the presence of the only deep-sea ports in the region – Sri Lanka is are looking at ways of generating more value-add in its key industries, while the government courts investment from China and elsewhere.
The chief economist at the Ceylon Chamber of Commerce Anushka Wijesinha tells GTR about some of the most interesting developments in the country’s export sector.