Category: Economy
Sri Lanka’s Exports Surge to Nearly USD 10 Bn in First Seven Months of 2025
Sri Lanka’s export sector has demonstrated remarkable resilience and steady momentum during the first seven months of 2025, with total exports reaching US$ 9,992.53 Mn, marking a robust 7.79 % growth compared to the corresponding period in 2024. In July 2025 alone, total exports, comprising both merchandise and services reached to US$ 1,641.11 Mn, recording […]
UK and Sri Lanka sign bilateral debt restructuring agreement reached in June 2024
• Bilateral debt agreement between the UK and Sri Lanka establishes terms reached between Sri Lanka and Official Creditor Committee in June 2024. • Agreement allows Sri Lanka to resume interest payments, with a grace period to repay the main debt amount until 2028 British High Commissioner Andrew Patrick and Sri Lanka’s Secretary to the […]
Deflation expected to end by Q3-2025; economy to grow by around 4.5-pct in 2025: CBSL
The Central Bank of Sri Lanka (CBSL) has released its second Monetary Policy Report for 2025, in line with the transparency and accountability requirements of the new Central Bank of Sri Lanka Act, No. 16 of 2023. The biannual report offers a forward-looking analysis of the economy, with a specific focus on the inflation and […]
U.S. Ambassador Meets with the Ceylon Chamber Leadership
The Ceylon Chamber of Commerce was honoured to welcome the Ambassador of the United States to Sri Lanka, Julie Chung, for a courtesy visit with the Ceylon Chamber’s leadership. Ambassador Chung met with Chairman Krishan Balendra, Vice Chairman Bingumal Thewarathanthri, Deputy Vice Chairman Vinod Hirdaramani, Secretary General and CEO Buwanekabahu Perera and other representatives of […]
National Program for Developing 1000 Entrepreneurs
The “National Program for Developing 1000 Entrepreneurs” is an innovative initiative aimed at empowering the SME sector in Sri Lanka by enhancing the knowledge, skills, productivity, and export capacity of entrepreneurs, thereby contributing to the strengthening of the national economy. This program is being implemented by the Ministry of Industry and Entrepreneur Development in collaboration […]
EDB Addresses US Tariff Challenge with Industry Leaders
Government officials and export sector representatives unite to address 20% US tariff impact on Sri Lankan goods The Sri Lanka Export Development Board (EDB) held a successful discussion today (06th) regarding the 20% tariff recently imposed by the United States on Sri Lankan goods. High-level government officials and numerous export sector representatives gathered for this […]
US Lowers Tariffs on Sri Lankan Imports to 20-pct
The United States has once again lowered tariffs on goods imported from Sri Lanka, with the new rate set at 20%. This move, confirmed by the White House, follows an executive order signed by President Donald Trump that also revises tariffs for 40 other nations. The new tariff rate will come into effect on August […]
IMF Staff Concludes Visit to Sri Lanka
The economic reforms implemented by Sri Lankan authorities are bearing fruit, with growth outperforming, inflation progressing to target, external reserves accumulating, and fiscal revenues improving. Sustaining the reform momentum is critical to safeguarding macroeconomic stability, entrenching the recovery, and building Sri Lanka’s resilience to shocks amid trade policy uncertainty and geopolitical tensions. Progress in meeting […]
The Once and Future Industrial Northern Province
By Jekhan Aruliah The Chamber of Commerce and Industries of Yarlparnam, CCIY, was born in the short period of optimism in 1999. When the Sri Lankan Civil War, at that time already aflame for 16 years, seemed to be heading toward a settlement. Opposing sides were sitting at the same negotiating table. That optimism was […]
Reduction in tariff from 44-pct to 30-pct is a constructive & important first step: Ceylon Chamber
The Ceylon Chamber of Commerce views the reduction in the tariff rate from 44% to 30% a constructive and important first step by the Government toward bringing Sri Lanka’s tariff structure for exports to the U.S. closer to that of regional competitors. “We encourage continued engagement with the U.S. administration to secure a further reduction […]
‘s EFF, Unlocking USD350 Mn in Support
The International Monetary Fund (IMF) Executive Board has successfully completed the Fourth Review under Sri Lanka’s 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR 254 million (about USD 350 million). This latest disbursement brings the total IMF financial support provided to Sri Lanka so far to SDR 1.27 billion (about USD […]
IMF Chief Warns Sri Lanka Against “Reform Fatigue,” Hails “Remarkable Progress” Post-Crisis
The International Monetary Fund (IMF) today lauded Sri Lanka’s “remarkable progress” in its economic recovery but issued a stark warning against abandoning crucial reforms. Speaking at a conference in Colombo, IMF First Deputy Managing Director Gita Gopinath emphasized that the island nation’s current path “this time must be different.” Gopinath highlighted significant strides since the […]