With strong economic growth and an expanding population, Sri Lanka faces increasing demand for cost-efficient and clean energy. Similarly, the expansion and modernisation of the country’s cities, towns and villages is also placing higher demands on water and sewerage services, with investment in these vital utilities needed for successful future development. In a bid to meet these challenges, the…
With sustained double-digit growth in visitor arrivals and burgeoning foreign exchange receipts, tourism is one of the most dynamic and robust sectors of the Sri Lankan economy. The country’s growing reputation is drawing visitors from an increasingly diverse range of markets to its pristine beaches, historical landmarks and adventure-packed outdoors. Building on this success, the government is now…
A long-time economic mainstay and the country’s primary employer, the agriculture sector makes up 9% of Sri Lanka’s GDP and is a significant source of foreign exchange. With the exception of rubber, all of the country’s major agricultural exports saw growth between 2010 and 2015. Export earnings increased during the same period, with agricultural exports comprising around one quarter of the total.…
Situated close to some of the world’s most important sea lanes, connecting the Asian, African and European continents, Sri Lanka has some major strategic advantages when it comes to global transport links. At the same time, this island of nearly 21m people lies just off the coast of one of the world’s largest and fastest-developing economies – India – while enjoying excellent relations with…
Sri Lanka’s commitment to being conducive to private-sector business development is reflected in its marked orientation towards trade and investor-friendly encouragement of foreign direct investment. Building on its strategic location at the gateway to India and between the Middle East, Africa and South-east Asia, the government of Sri Lanka is pushing an agenda of open and free-market economic policy…
These are changing times for Sri Lanka’s insurance sector. Major regulatory moves over the last two years have seen much strengthening and consolidation, with these processes set to continue in the year ahead. Profitability remains high, particularly in the life insurance segment, while in the non-life segment a fiercely competitive environment is driving companies to find ways to differentiate through…
A post-war boom has been followed by a mixed few years for Sri Lanka’s capital markets, with a strong performance in 2014 followed by two slower years. The outlook is now brightening again as the Colombo Stock Exchange, the Securities and Exchange Commission, and the Sri Lankan government look to build the bourse’s role in the economy. The bourse’s composition is not particularly representative…
With strong asset growth, reliable profitability and solid capital adequacy, the Sri Lankan banking sector stands in sound health these days as it looks forward to a period of continued economic stability. Like other sectors, the industry is moving in the direction of greater capital and technological requirements, and continues to undergo a period of consolidation – particularly among its smaller…
With robust growth figures, improving infrastructure, an increasingly service-dominated economy and a new reform-minded government, Sri Lanka is an economic champion that has too often been overlooked. The island nation has seen continuous growth since a recession in 2001, even during the last years of the civil war, which ended in 2008. The rising tide has lifted all boats, and pockets of poverty…
As the country’s economy has liberalised and grown in recent decades, its trade volumes to developed markets and emerging ones have risen strongly. The country has established a name for itself as a leading exporter both of manufactured goods and traditional products such as tea and spices. A free trade agreement with India signed in 2000 has proved a major boon and is now being followed by a raft…
