Sri Lanka and Indonesia are set to submit a joint application to enhance their apparel exports under the United Kingdom’s tariff preference scheme for developing countries, according to a cabinet statement. Following the UK’s exit from the European Union, the UK Global Tariff (UKGT) and the UK Generalized Scheme of Preferences (UK GSP) have replaced
The International Monetary Fund (IMF) has raised concerns about the elevated uncertainty surrounding the global economic outlook, citing the potential impact of elections and policy changes. In its latest World Economic Outlook (WEO) report, titled “Policy Pivot, Rising Threats,” the IMF noted that nearly half of the world’s population is either going to the polls
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