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    International Environment and Impacts on Sri Lanka

    Lanka, Institute of Policy Studies of Sri | October 2019
    Abstract
    Global economic activity slowed over the course of the year in 2018, with the sluggish momentum continuing through to 2019. Escalating trade tensions between the US and China, coupled with President Trump’s protectionist stance have been the biggest contributor to the dip in economic sentiment, globally. To add to concerns, China’s economic growth rate is slowing due to regulatory tightening and trade tensions with the US, while the Euro area faces more challenges than expected. In addition, the unclear terms of exit of the UK from the European Union (EU) has heightened uncertainty in the global economic environment. Under such toxic external conditions, Sri Lanka’s external sector faces a multitude of challenges, including the spillover impacts of the ongoing trade wars, as it seeks to increase exports via several reform packages. A largely stagnant export basket, as well as overreliance on markets in the US and EU for exports do not help, as demand from these destinations could slow due to unfavorable external conditions. Other key revenue generating sources such as remittance earnings are also slowing down; the April 2019 terror attacks derailed what was otherwise a promising performance in tourism earnings. Thus, while the country’s external sector resilience has marginally improved by mid-2019, much remains to be done to strengthen Sri Lanka’s position, to effectively cushion against external shocks.
    Citation
    Lanka, Institute of Policy Studies of Sri. 2019. International Environment and Impacts on Sri Lanka. © Institute of Policy Studies of Sri Lanka. http://hdl.handle.net/11540/11283.
    Keywords
    Free Trade
    Trade Facilitation
    Trade
    Economic integration
    Regional Economic Integration
    Intraregional Trade
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Economic planning
    Economic structure
    Growth policy
    Trade relations
    Trade policy
    Economic development
    Economies in transition
    International economy
    Border integration
    Economic integration
    Gross domestic product
    Trade Regulations
    Exchange Rate
    Economic zones
    Protection
    Regional economics
    Economic forecasting
    Economic development projects
    Success in business
    Business
    Free trade
    Business
    Economics
    Communication in economic development
    Restraint of trade
    International economic integration
    Trade blocs
    East-West
    Exchange rates
    Economic Zones
    Value chains
    Wages and labor productivity
    Efficiency wage theory
    Income Distribution
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    Citable URI
    http://hdl.handle.net/11540/11283
    Metadata
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    INTERNATIONAL-ENVIRONMENT-AND-IMPACTS-ON-SRI-LANKA_3.pdf (766.5Kb)
    Author
    Lanka, Institute of Policy Studies of Sri
    Theme
    Trade
    Economics
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise