SL Trade & Policy Challenges: A Global Comparison 📈

• Sri Lanka’s total trade volume in 2023 was approximately US$ 32 Bn, with exports at US$ 13.6 Bn and imports at US$ 17.6 Bn, resulting in a trade deficit of about US$ 4 Bn. • Key Exports: Main exports remain traditional and labour-intensive sectors, including tea, rubber, spices, and apparels & textiles. The apparel industry is noted for high labour requirements, basic technology, and limited margins. • Economic Performance: The country's economy is currently assessed at less than US$ 100 Bn. The average annual economic growth rate since independence has been a "paltry 4%," reflecting long-term national underperformance. • Regional Context: SL's trade volume is significantly smaller than key Asian counterparts: India: Trade volume of ~$ 1.73 Tn (Exports ~$ 820 Bn). Singapore: Trade volume of ~$ 1.23 Tn (Exports ~$ 638 Bn). Cambodia (17M people): Trade volume of ~$ 54 Bn (Exports ~$ 26 Bn).