Manufacturing Leads the Way in Sri Lanka
Tuesday, March 14, 2017
Manufacturing in Sri Lanka is growing at pace according to the Central Bank of Sri Lanka who posted the latest purchasing managers’ index (PMI) showed good growth prospects in the sector. With a score of 56.1 in January 2017, rising demand and stronger sales are seeing the index into positive territory, any score above 50.0 indicates growth. However, fears are growing that the industry will have a labour shortage as a skills gap is developing. It is urgent that the gap is addressed as Sri Lanka is hoping to get approval on its GSP+ trade deal with the European Single Market in May, potentially opening new trade routes for the economy. To read more click here.
To read our review on Sri Lanka as a sourcing destination, click here.