Exporters optimistic despite challenging global outlook

Friday, 16 February 2024 00:26 - - {{hitsCtrl.values.hits}}

The recently released fifth Export Barometer Survey by the Ceylon Chamber of Commerce showcases the resilience of Sri Lankan exporters despite a challenging global outlook. In a survey covering 2023 and forecasting 2024, exporters expressed confidence in their growth prospects.

Amidst economic dynamics, the export sector exhibited robust growth in 2023. Exporters stressed that increasing utility prices and the cost of transport and logistics posed significant challenges during 2023.

Service-oriented exporters grappled with a lack of skilled labour, highlighting a sector-specific challenge that warrants attention. However, most exporters identified new business opportunities, leading to workforce expansion to meet growing production demands.

Digital transformation was a key trend, with exporting firms, especially SMEs, leveraging digital tools for streamlined processes. From digital marketing to cutting-edge technologies, exporters embraced innovation to enhance global visibility.

Political stability and a consistent energy supply were identified as crucial facilitators for operational optimisation. Despite global uncertainties, Sri Lankan exporters remain optimistic about economic and export growth in 2024. Looking ahead, exporters plan to implement strategic measures, including adopting more competitive pricing strategies, to boost export orders.