Often referred to as the pearl of South Asia, Sri Lanka’s strategic position at the southernmost point between Africa, the Middle East and East Asia has supported its transformation into a leading global shipping hub. The Port of Colombo now stands as the largest and busiest in the region, benefitting from years of investment that have significantly increased handling capacity and cargo...
Buoyed by its powerhouse apparel, tea, coconut, rubber and gemstone segments, Sri Lanka’s industrial sector has recorded significant expansion in export volumes and earnings in recent years. Although rubber and tea have been affected by falling global commodities prices and volatility in key export markets, rising demand for value-added products, a specialty of the sector, is expected to...
As Sri Lanka’s economy has expanded over the past half decade, its insurance industry has grown apace, in the process becoming a vibrant and competitive market in its own right. Some 29 insurance companies were operating in Sri Lanka as of the beginning of 2016, at which point the sector’s total assets were valued at LKR394.2bn ($2.8bn), according to data from the industry regulator. This...
The Sri Lankan capital markets are recovering after a period of great change and a measure of controversy. Stocks boomed when the civil war ended, only to fall back as regulation and regulators were unable to keep up with the surge in activity, and manipulation and unfair dealing were alleged. With a new government in power, the apparent wrongs of the past are being addressed and a roadmap for...
The Sri Lankan banking sector is well capitalised, well regulated and fast growing. It has faced no collapses in recent years and has benefitted from strong economic growth and relative stability following the end of the civil war in 2009. Financial stability is not seen as a major concern, and any problems related to the health of institutions are regarded as manageable, with the regulators...
The Sri Lankan economy has been growing well recently despite a degree of political uncertainty and the global slowdown in emerging markets, with GDP expanding on average more than 6% since 2010. The new government inherited an economy with great potential but burdened by debt and lacking the types of investment to see it through to the next stage. Accelerating growth is now necessary, not...
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