Sri Lanka Trade, Exports and Imports

By: EconomyWatch Content   Date: 30 March 2010

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Sri Lanka was a contracting party to the General Agreement on Tariffs and Trade (GATT) and also became the founding member of the World Trade Organization (WTO). For decades, the country assumed a proactive role as a driving force to trigger trade liberalization in the region. Sri Lanka is also a member of South Asian Free Trade Area (SAFTA). Sri Lanka shares  healthy trade relations with India after the two countries signed a free trade agreement (FTA). By 2004, trade between the two nations rose by 128% and reached USD 2.6 billion by 2006.Sri Lanka also leverages on “GSP+” trade preferences of the European Union. Australia has strong trade ties with Sri Lanka. In the financial year 2008-09, the two-way trade between these two countries amounted to $329 million. Sri Lanka trade benefits a lot from its modern ports that were built by the British before leaving they left the island. In 2009, the country’s exports stood at $7 billion as compared to $8.137 billion in 2008. The imports also fell to $9.6 billion 2009 from $14.08 billion 2008.

 

Sri Lanka Exports Commodities

The major export commodities of Sri Lanka are:

  • Textiles and apparel

  • Tea and spices

  • Diamonds

  • Emeralds

  • Rubies

  • Coconut products

  • Rubber manufactures

  • Fish 

Sri Lanka Exports Partners

The following graph depicts the share of various export partners of Sri Lanka: 

 

Sri Lanka Imports Commodities:

The major import commodities of Sri Lanka are as follows:

  • Textile fabrics

  • Mineral products

  • Petroleum

  • Foodstuffs

  • Machinery and transportation equipment 

Sri Lanka Imports Partners

The following graph depicts the share of various import partners of Sri Lanka:

Iimport partners of Sri Lanka 2009 

 

 

  

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