Sri Lanka’s manufacturing and services sectors showed strong growth in November, according to the latest Purchasing Managers’ Index (PMI) data. The manufacturing PMI recorded an index value of 53.3 in November 2024, indicating an expansion in manufacturing activities on a month-on-month basis, with positive contributions from all sub-indices. The Central Bank of Sri Lanka (CBSL),
Inflation in Colombo fell further into deflationary territory in November 2024, as anticipated by the Central Bank, with a significant decline in non-food prices and a slower decrease in food prices compared to the previous month. The Colombo Consumer Price Index (CCPI) saw a 2.1% drop in the year through November 2024, a sharper decline
Sri Lanka’s rupee is expected to remain stable on a ‘very comfortable terrain’ in the coming years, with gross foreign exchange reserves forecast to exceed US $12 billion before capital repayments to creditors begin in 2029, according to the Sri Lanka Banks’ Association (SLBA) Chief and Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri. Despite potential
In May 2024, Sri Lanka’s merchandise exports dropped by 5.81% compared to the same month last year, totaling 960.2 million dollars, according to the island’s Export Development Board. For the first five months of 2024, goods exports reached 5,016.30 million dollars, marking a 3.09% increase from the same period in the previous year. Service exports