Sri Lankan exporters are expressing optimism for the future, according to a recent survey by the Ceylon Chamber of Commerce (CCC). Despite a challenging global outlook, 39% of firms surveyed expect the Sri Lankan economy to experience moderate growth in 2024 compared to 2023.
The survey, titled the “Fifth Export Barometer Survey,” showcases the resilience of Sri Lankan exporters in the face of economic headwinds. A key finding is the widespread adoption of digital technologies: 71% of respondents say they have embraced digital tools to improve their export operations, with 68% of these being small and medium-sized enterprises (SMEs). This digital transformation is seen as a major driver of growth, with 43% of firms expecting moderate growth in orders and services for 2024.
However, the survey also highlights ongoing challenges. Exporters identified increasing utility prices and transportation costs as significant hurdles. Service-oriented businesses additionally face a lack of skilled labor, requiring focused attention.
Despite these obstacles, most exporters remain optimistic. They reported identifying new business opportunities, leading to workforce expansion to meet growing demand. Political stability and a consistent energy supply were also seen as crucial factors for smooth operations.
Moving forward, exporters plan to implement strategic measures to boost export orders, including adopting more competitive pricing strategies. This confidence in the face of global uncertainties paints a positive picture for the future of Sri Lanka’s export sector.