The World Bank reported that Sri Lanka is the only country in which exports have grown stronger than imports recently, while exports remained relatively flat throughout South Asia, as given in the third installment of the series, South Asia Economic Focus published last Sunday.
on: August 20 ,2018 In: Developing News
A study done by the Ministry of Development Strategies & International Trade has estimated the loss of export revenue during the period in which Sri Lanka lost its GSP+ concessions to be between 150 to 250 billion rupees. GSP+ concession for Sri Lanka was lost in August 2010 and was reinstated in May 2017 by the European Union.
Prior to the loss of GSP+ concessions, Sri Lanka exported US$ 2.1 billion of apparel in 2009, ahead of Vietnam, Pakistan and Cambodia. After the loss of GSP+ concessions, despite the value of apparel exported from Sri Lanka to the EU increasing to US$ 2.4 billion in 2015, Vietnam, Pakistan and Cambodia were all ahead of Sri Lanka.
To read the full article visit http://www.dailynews.lk/2018/08/20/business/160103/sl-suffers-rs-150-250-bn-loss-due-gsp-withdrawal
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