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Sri Lankan exporters optimistic over 2024 prospects -CCC

16 February 2024 12:00 am - 0     - {{hitsCtrl.values.hits}}

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After three years of uncertainty, Sri Lankan exporters sounded upbeat on the prospects for 2024 despite a challenging global outlook.


The fifth Export Barometer Survey carried out by the Ceylon Chamber of Commerce (CCC) revealed that exporters are optimistic and are confident in their growth.


Amidst economic dynamics, the export sector exhibited robust growth in 2023.


According to the survey findings, 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. The survey highlighted that for SMEs some of the leading facilitation measures required include, allowing a market determined exchange rate and financial assistance. Meanwhile, women-led firms wanted access support to overseas markets and improved access to trade/export finance. 


Looking ahead, exporters plan to implement strategic measures, including adopting more competitive pricing strategies, to boost export orders, the CCC said.

 


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