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Sri Lanka in the World of BRICS as Latter Expands- by Eddie Barwood
Source:Thuppahis
This is an interesting report from a well known Russian media source reporting on the BRICS meetings there recently.
Countries are summarised concisely in terms of their economies, key importer and exporter countries, goods involved, and challenges. I draw your attention to Sri Lanka which starts at 9’57 minutes. I was surprised to see that Sri Lanka mainly exports to US, India, UK, Germany and Italy – mostly Western countries, while the main imports come from India, China, the UAE, Malaysia and Singapore which are all Asian countries, not Western.
Despite a trade deficit in 2022, Sri Lanka shows strong export performance in textiles, tea and rubber products. Its economy is diverse.
Total exports for 2022 $14.8 billion making it the 89th largest exporter in the world. SL still has problems managing its imports, particularly in the energy sector.
