With an eye on the target of reaching $8.5bn worth of clothing exports per annum by 2020, Sri Lanka’s apparel manufacturers are backing a national bid to regain preferential trade concessions from the EU.
Sri Lanka
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A $1bn revenue target is spearheading Sri Lanka’s efforts to solidify its place as a key source market for gemstones and jewellery, although flat global sales of luxury goods, coupled with labour shortages, risk hindering the country’s efforts.
Supply is set to overtake demand at the high end of Sri Lanka’s residential property market, with a series of large-scale projects under way in and around Colombo.
The coming year looks set to bring further consolidation to Sri Lanka’s financial sector, with market forces expected to drive the trend, in lieu of the government-led policy of the previous administration.
Economic update | Sri Lanka eyes port potential
31 Jul 2015
A move to increase capacity at Sri Lanka’s ports is enabling the island nation to capitalise on its strategic location by serving growing traffic on the international east-west shipping lanes.
Rising demand at home and weaker growth in the export market have prompted the Sri Lankan government to increase its focus on the agriculture sector, with improved food security a longer-term goal.