Economics

Sri Lanka’s Export Economy Faces Challenges, IPS Calls for Diversification and Policy Reforms

  • October 22, 2024

According to the Institute of Policy Studies (IPS), Sri Lanka’s export economy remains heavily reliant on apparel, with goods and services exports accounting for approximately 20.4% of GDP in 2023. Of this, manufacturing exports contributed 14%, and a staggering 77% of export income is derived from industrial goods, primarily apparel. In contrast, agricultural exports account

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Industry Analysis

Richard Pieris Group’s Q1 Profits Surge 281% to Rs. 1.75 Billion

  • August 2, 2024

Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, reported a Profit Before Tax (PBT) of Rs. 1.75 billion for the first quarter of the 2024/25 financial year. This represents a 281% increase from the Rs. 459 million recorded in the same period last year. This impressive performance underscores the Group’s resilience

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