Opening up Trade Data: The Benefits to Sri Lanka
This policy note unpacks the importance of free and online access to trade data and highlights the problems of Sri Lanka Customs (SLCs) restrictive data dissemination policy. These hurdles, which must be resolved, have caused Sri Lanka to lag behind regional peers that have made considerable attempts to make their trade data free and easily accessible
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International trade and export orientation is pivotal for Sri Lanka’s economic growth. However, export growth has remained stagnant in the past decade. Sri Lanka’s exports are heavily concentrated in markets and products where its competitive advantages are diminishing. Verité’s research assesses the extent to which current strategies enhance Sri Lanka’s position as an international trade partner. It also identifies issues that continue to plague Sri Lankan exporters such as lengthy export procedures, lack of export finance instruments and proposes potential solutions to overcome them. These insights have had significant impact on the public discussion surrounding the national export strategy.
