Rising demand and expectations of stronger sales should sustain growth in Sri Lankan manufacturing in 2017, though labour shortages will need to be addressed to maintain this trajectory.
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Greater consumer confidence could bring about higher returns from Sri Lanka’s retail sector, though the possibility of a further tightening of monetary policy by the country’s central bank might offset any near-term gains.
Economic update | Sri Lanka Year in Review 2016
19 Jan 2017
Underpinned by solid growth and boosted by medium-term fiscal support, the Sri Lankan economy rode out a difficult year in 2016, though government measures to curb spending and boost revenue may impact investment and expansion in the coming year.
The office segment of Sri Lanka’s property market is likely to see rising levels of activity over the next few years, as developers scramble to bridge a shortage of premium space.
Government commitments to step up privatisation, repair its balance sheet and encourage more listings should help broaden the base of Sri Lanka’s capital markets and draw stronger flows of foreign direct investment (FDI) into the economy.
Adverse weather conditions, combined with rising costs and greater competition, threaten to weaken Sri Lanka’s position in the global tea industry, though efforts to develop new markets could help offset downturns in exports and revenue.