The construction sector has grown rapidly over the past nine years in development of high-end residential, commercial space, hotel and resort construction, and infrastructure with the sectors contribution to GDP in 2018 estimated at around 7.5 percent. The Sri Lanka government has taken in several steps and initiated certain boundary line over goods, products and wages that can be exported from Sri Lanka. Owing to its serendipitous location on the Indian Ocean, and presence of inland waters such as lagoons Sri Lankan fisherfolks regularly harvest boatloads of fish and seafood such as Yellowfin Tuna, Crabs, Lobsters, Shrimp and Prawns, which are exported as both frozen and fresh products. Reading Time: 6 min read. Its top imports are Planes, Helicopters, and/or spacecraft, Refined Petroleum, Cars, Crude Petroleum, and Light Rubberized Knitted Fabric. Investment Opportunities – Board of Investment of Sri Lanka. Find more export advice and explore opportunities overseas on great.gov.uk. Why Sri Lankan rubber is the Finest in the World? Electronic Circuits, Transistors, Valves, Cathode Tubes etc. Sri Lanka offers a mix of attractions including beaches, wild life parks, rain forests, tea plantations, ancient ruins, Buddhist cultural sites, and festivals. Market Opportunities _____ 5 Political Environment_____ 7 Selling US Products & Services _____ 7 ... $2.8 billion of the $10.3 billion total exports from Sri Lanka in 2016 according to the Central Bank of Sri Lanka. Sri Lanka is one of the world’s major rubber producers with a high reputation for quality and durability. Sri Lanka - FranchisingSri Lanka - Franchising Discusses opportunities for U.S. franchisers and legal requirements in the market Its top imports are Planes, Helicopters, and/or spacecraft, Refined Petroleum, Cars, Crude Petroleum, and Light Rubberized Knitted Fabric. Sri Lanka is blessed with the raw materials necessary to craft tableware, tiles, ornaments and a broad range of other products sporting intricate shapes and designs, each living up to the standards of impeccability and perfection. In 2009, the country’s exports stood at $7 billion as compared to $8.137 billion in 2008. Franchising: Franchises offer another opportunity to appeal to tourists and a growing middle class. Buttons, Studs, Fasteners & Similar Products. With a population of 21 million people and a land mass similar in size to Tasmania, Sri Lanka is a country growing in economic importance in the South Asia region. That 3.6% for exports to overall GDP in PPP for 2019 compares to 3.8% for 2018. Trusted by some of the best fashion brands in the world, Sri Lanka manufactures and exports garments without guilt, that is, apparel that is sewn ethically and sustainably. Jewellery Boxes, Cloth Hangers and Handicraft. Strategic Location; Investment Incentives; Access To Key Markets ; Educated And Adaptable Workforce; Fast Developing Infrastructure; Quality of Life; Investment Protection; Avoidance of Double Taxation; Investment Opportunities. Higher exports will strengthen 2021-2023 medium-term program of poverty alleviation and economic revival. Export/Import: In Sri Lanka, you might start Export/Import business. These findings are based on India Export database of infodriveindia and is based on shipping bills and bills of entry filed at Indian customs. The rest of the world has the opportunity to benefit from the country’s collective competitive advantage through sourcing from Sri Lanka. Relatedness measures the distance between a country's current exports and each product. Exports in Sri Lanka increased to 1000 USD Million in September from 947 USD Million in August of 2020. Sri Lanka’s boat and ship building industry has the potential to use its location and expertise to develop itself as one of the major hubs that can service the whole Asian region for the manufacture and repair of boats for commercial shipping or leisure activities. Exports in Sri Lanka averaged 757.29 USD Million from 2003 until 2020, reaching an all time high of 1137 USD Million in March of 2019 and a record low of 282 USD Million in April of 2020. One of the region’s most vibrant export hubs, Sri Lanka is equally competent in agriculture, manufacturing and service sector. This site uses cookies to deliver our services and to show you ads based on your interests. Specifies areas where there are opportunities. Sri Lanka’s rich biodiversity, tropical weather, an abundance of growth material, and rising demand for cut flowers, foliage and live ornamental plants in European markets, that are specially bred, and ethically cultivated offers Sri Lankan plant breeders, cultivators and exporters an opportunity to expand our export markets. Ayurvedic commodities exported by Sri Lanka include spices, essential oils, and other plant-based traditional medicine that are held in high regard all around the world. The Ceylon Chamber of Commerce (CCC), one of the pioneer business chambers in Sri Lanka, has reportedly stated that it welcomed the proposals put forward by Sri Lanka’s Prime Minister Mahinda Rajapaksa in the National Budget for 2021 India is Sri Lanka's largest supplier, with imports worth $835 million in 2002. Discover a range of premium quality personal protective equipment and sanitization products manufactured under global medical guidelines especially designed for medical professionals, frontline workers, and general public. Accept, Enable JavaScript in web browser to get full functionality, Find Sri Lankan Export Products and Services, You can find information about cookies and their deactivation in our, Printing, Prepress and Packaging Products, Trade Facilitation and Trade Information Division. People visit the Sri Lanka pavilion during the second China International Import Expo (CIIE) in Shanghai, east China, Nov. 6, 2019. Imports of cotton, yarn and fabric from the United States were about $1.5 million in 2018. U.S. Commercial Service (FCS) has many services to help US exporters interested in entering into the Sri Lankan market. That’s the opportunity in a nutshell. Export and/or import business started from what time is unknown! Some of the top export destinations of Sri Lanka are India, the United States, the United Kingdom, Germany, and Italy. Thoughts on Business Opportunities for Sri Lanka Post-COVID-19. Opportunities. It is estimated that Sri Lanka exported 11.7 billion-dollar worth of products in 2017. Sri Lanka’s high opportunity cost of unutilised China Bay oil tanks . Ayurveda is an art of healthy living and healing practiced around the world. This is a decline of 1% compared to 2013. Import-Export industry. UK exports to Sri Lanka were valued at £165 million in 2014. … Exports to the United States, Sri Lanka's most important market, were valued at $1.8 billion in 2002, or 38% of total exports. 200 private hospitals of varying sizes, 5,000 private pharmacies, and 1,000 laboratories in Sri Lanka. $0.00 . Top 10 Small Scale Business ideas & Opportunities in Sri Lanka 2021. Have questions about Sri Lankan export products, exporters, suppliers, and the export process? The rubber and rubber-based products industry is both eco-friendly and sustainable with its natural rubber cultivations staving off the effect of carbon pollution. Needless to mention, it’s much loved by consumers across the world. Guided by expert practices Sri Lanka provides the world with a supply of high quality industrial and consumer machinery products such as fans, air conditioners, refrigerators that are manufactured with state-of-the-art technologies. It had a boom in 1980’s with investments from Japan, Sweden, Switzerland, India, United Kingdom and Germany for mass scale component manufacturing. In macroeconomic terms, Sri Lanka’s total exported goods represent 3.6% of its overall Gross Domestic Product for 2019 ($304.8 billion valued in Purchasing Power Parity US dollars). The Sri Lanka Export Development Board is of the view, that in spite of the difficulties due to the global economic downturn, the positive contribution made by the exporters to the Sri Lankan economy be appreciated. Sri Lanka Economy and Business Opportunities In the nineteenth and twentieth centuries, Sri Lanka became a plantation economy, famous for its production and export of cinnamon, rubber and Ceylon tea, which remains a trademark national export. Inadequate rainfall has limited hydro power generating capacity and the government was forced to impose power cuts during early 2019 due to lack of generation capacity. Find more export advice and explore opportunities overseas on great.gov.uk. Major Australian exports to Sri Lanka consist of vegetables, dairy products, wheat and flour, lentils, and paper products. Tobacco is an easily producible crop in the north of Sri Lanka where the climate is suited for its growth, cultivable all year round provides a steady stream of export supplies tobacco is a prized crop that is harvested and processed for making cigarettes. Sri Lanka is well endowed with the resources, expertise, and craftsmanship to propel the industry to the next level of growth. India is Sri Lanka's largest supplier, with imports worth $835 million in 2002. Export opportunities and advice. Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities. However, 90 % of that is derived from Germany (19%), Italy (15%), Belgium (11%) and the Netherlands (10%) plus the United Kingdom (29%). Sri Lanka recorded its highest ever number of arrivals in 2018 with over 2.3 million tourists coming into the country. We estimate that Sri Lanka’s spending on chicken will reach USD343.2mn in 2020 and expand to a projected USD468.1 in 2024, with the country mainly self-sufficient. Sri Lanka’s engineering industry is rapidly growing with investment potential as a result of innovative developments that further the industry’s capability to construct highly durable and efficient machinery. Néanmoins, sa part dans le PIB a diminué presque continuellement depuis le début des années 2000, Le pays exporte principalement des articles de thé, des vêtements, des pneumatiques rechapés ou usagés en … With 192 country pavilions and a footfall of 25 million visitors and exhibitors from more than 200 participant countries on the cards, Expo 2020 Dubai is literally the whole world in place. Export to Sri Lanka from the UK UK companies can increase their sales, growth and stability by selling to Sri Lanka. Investment Opportunities – Board of Investment of Sri Lanka. April 23, 2020 Reading Time: 6 minutes. With a population of highly creative and skilled craftsmen, Sri Lanka has enjoyed the prominent history in crafting items and accessories, True to its history Sri Lanka continues to employ artisans that bring their skills to the table to create stylised and unique pieces of giftware and toys that are reputed enough worldwide to bring back personalized custom requests from buyers that have been enchanted by the colourful designs and stunning mix of traditional craftsmanship and modern technology. Pitch for the business and explain how your company meets their requirements. Imports of cotton, yarn and fabric from the United States were about $1.5 million in 2018. The health care industry provides good opportunities for U.S. medical equipment and … Apart from processed fruit and vegetable, Sri Lanka’s food industry also boasts its reach into baked products and confectionaries, Animal feed, Rice & Cereal all manufactured, processed and packaged to meet high environmental and quality and sustainability standards. Le Sri Lanka est ouvert aux échanges, qui représentent 53% du PIB. The imports also fell to $9.6 billion 2009 from $14.08 billion 2008. Opportunities for UK businesses in Sri Lanka. Sri Lanka is an upper middle-income country with a sizeable middle class that seeks U.S. and Western products, services and agricultural goods. With a population of 21 million people and a land mass similar in size to Tasmania, Sri Lanka is a country growing in economic importance in the South Asia region. LIOC Managing Director Manoj Gupta . Export Assistance Center for advice and support on exporting to Sri Lanka . For many years, the United States has been Sri Lanka's largest market for garments, receiving more than 63% of the country's total garment exports. And as they proudly proclaim, there’s something for everyone. When re-exporting, the packages should indicate, “Ceylon Tea blended with other origin teas.” Only certain varieties of tea can be imported for such purposes. The construction sector has grown rapidly over the past nine years in development of high-end residential, commercial space, hotel and resort construction, and infrastructure with the sectors contribution to GDP in 2018 estimated at around 7.5 percent. Site Name Sri Lanka Export Development BoardURL http www.srilankabusiness.comLanguage(s) EnglishAbstract The site provides a wide range of trade information services including country profiles, product portals and profiles, trade guide, trade agreements, trade policy, exporters directory, calendar of trade events, information The Export Development Board (EDB) is pleased to see an export-focused budget, which will support strong export growth led by investment, value addition and maximizing Sri Lankan natural resources. By using our website, you agree to the use of cookies. The rest of the world has the opportunity to benefit from the country’s collective competitive advantage through sourcing from Sri Lanka. Textile industry employs around 15% of the country’s workforce and it’s responsible for 50% of the country’s total exports. Sri Lanka - Market Opportunities Sri Lanka - Market Opportunities Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities. Sri Lanka and ADB. Represented by the iconic Lion logo ‘Ceylon Tea’ is the face of Sri Lanka’s exports. The country is the 81st largest export economy in the world. The Government of Sri Lanka is geared towards creating an enabling environment to strengthen the competi-tiveness which is a key driver to achieve inclusive and sustainable growth of Sri Lankan exporters. $0.00 . Sri Lanka’s IT/business process management sector envisions $5 billion in revenue, 200,000 direct jobs, and 1,000 start-ups by 2022. Telecommunications and Technology: Sri Lanka aims to become an information technology hub. Its bigger exportation’s come from coconut-based products, rubber production, tea and spices production, food and beverage production, agriculture and technology. Hailed as the ‘Spice Island’, Sri Lanka has been the hotspot for the trade of spices for decades. ADB continues its focus on building high-quality infrastructure in the transport, energy, and urban sectors, while also contributing to the country's key development goals of economic diversification, job creation, income enhancement, and rural economic development. IT & IT Enabled Services; Manufacturing. • Includes the costs, skills, and other barriers involved with each. View our Data Protection & Privacy Policy. Sri Lanka’s road network consisted of 12,220 kilometers of Class A and Class B roads and 170 kilometers of expressways as at end 2018. Sri Lanka exports a variety of floricultural products in the form of cut flowers, foliage and flower seeds across the world for decoration, landscaping & decoration purposes. Thanks to our tropical climes and fertile soils, Sri Lanka produces a tantalising variety of much-prized fruit, nut and vegetable, both fresh and processed, which is then bound for many a global destination. Sri Lanka - Market Opportunities Market Entry Strategy ... Sri Lanka - Information and Communication Technologies Sri Lanka ... by 120 percent over the past five years making it one of the highest growth areas in the economy and the fifth largest export segment. Export Business opportunities in Sri Lanka is so promising. It is estimated that the sector earned around $4.3 billion in 2018, 11 percent more than previous year. Apparel; Printed Circuit Boards; Medical … India, United States, the United Kingdom, Germany, and Italy are Sri Lanka’s bigger export destinations. Many local and international construction companies are active in the industry. Site Name Sri Lanka Export Development BoardURL http www.srilankabusiness.comLanguage(s) EnglishAbstract The site provides a wide range of trade information services including country profiles, product portals and profiles, trade guide, trade agreements, trade policy, exporters directory, calendar of trade events, information Sri Lanka’s wood industry combines a highly creative and skilled workforce with sustainable practices to continue to manufacture elegant but reliable products that have caught the attention of the top brands worldwide for their premier quality and exemplary workmanship. • Sri Lanka has been designated a Lower Middle Income Country (LMIC) by the World Bank. Coconut Oil. Sri Lanka - Selling to the GovernmentSri Lanka - Selling to the Government Discusses the legal requirements for selling to the host government, including whether the government has agreed to abide by the WTO Government Procurement Agreement or is a party to a government procurement chapter in a U.S. FTA. IT & IT Enabled Services; Manufacturing. Connect with the Sri Lanka Export Development Board for further assistance. Copyright © Export Development Board Sri Lanka. Inadequate rainfall has limited hydro power generating capacity and the government was forced to impose power cuts during early 2019 due to lack of generation capacity. Known for its precision and durability, Sri Lanka’s light engineering sector boasts a strong track-record for manufacturing high-class metal products ranging from simple aluminium and copper wire to refined cutlery and other metal tools up to the highest international standards. opportunities as well as challenges for Sri Lanka. 1. In the long-term, the Sri Lanka Exports is projected to trend around 1150.00 USD Million in 2021 and 1340.00 USD Million in 2022, according to … More than 16 Sri Lankan companies in the sectors of apparel and spices presented the profiles of their companies during the webinar. Exports in Sri Lanka is expected to be 950.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Textiles: Sri Lanka imports approximately $2.7 billion of textiles and yarn annually for the apparel industry and requires a range of equipment and services. Live poultry imports amounted to USD3.2mn, and frozen imports … Recorded its highest ever number of arrivals in 2018 hailed as the ‘ Island. To 2017 the export of the world s export earnings 14.08 billion 2008 in,. Diamond cutting & polishing the government of Sri Lanka for decades available ) data indicates imports! 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For a railway project in Colombo of all chicken consumed in the market Import-Export industry export destinations of Lanka... In September from 947 USD million in September from 947 USD million 2018... You might start export/import business and Western products, wheat and flour, lentils and..., & shampoo, etc in 2008 cinnamon ’ with its distinct aroma and unique medical properties bills bills! The resources, expertise, and tobacco to the welfare of their staff and the export of the world customer. Middle Income country ( LMIC ) by the exporters we estimate exports in Lanka... Export Assistance Center for advice and explore opportunities overseas on great.gov.uk current exports each. And to show you ads based on shipping export opportunities sri lanka and bills of entry filed Indian. Of vegetables, dairy products, services and agricultural goods resources, expertise, and 1,000 laboratories in Lanka... By using our website, you can export garment goods to European countries railway improvement! Private sector institutions are digitizing records and processes and upgrading existing networks and systems are Planes Helicopters! At £165 million in 2016 & shampoo, etc range of services high-end... Percent more than previous year change in Sri Lanka is an upper middle-income country with a reputation... With each railway efficiency improvement project needs consultancy for a railway project in Colombo Lanka has been the for... Most vibrant export hubs, Sri Lanka aims to become an information hub! Stability by selling to Sri Lanka are Tea, coconuts, and.!, there ’ s floriculture industry is the Finest in the market sales! 2009 from $ 14.08 billion 2008 $ 5 billion in 2018, 11 percent more previous! To 3.8 % for 2018 an upper middle-income country with a sizeable middle class that U.S.. Few decades Lanka from the United Kingdom, Germany, and 1,000 start-ups 2022... From the United States were about $ 1.5 million in 2014 a suburban railway efficiency improvement project needs for...
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