By Despite facing hurdles like skilled labor shortages and rising costs, Sri Lankan exporters are cautiously optimistic about 2024, according to a Ceylon Chamber of Commerce survey. The report paints a nuanced picture of the export sector, highlighting both opportunities and concerns.
On the bright side:
Growth and expansion: Over half of respondents reported workforce expansion, indicating growing production demands.
Political stability and consistent energy: These were seen as key facilitators for business activities.
Moderate growth expectations: 39% anticipate moderate economic growth, and another 1% expect high growth.
Confidence in own growth: Exporters expressed confidence in their individual future despite broader uncertainties.
However, challenges remain:
Skilled labour gap: Service exporters grappled with a lack of qualified personnel, requiring strategic solutions.
Cost pressures: Rising utility prices and transportation costs were deemed significant hurdles.
Mixed growth outlook: While many expect moderate growth, a sizable portion anticipates contraction.
Looking ahead:
Competitive pricing: Exporters plan to adopt more competitive pricing strategies to secure orders.
Overall, the survey reveals a cautious optimism among Sri Lankan exporters. While they acknowledge challenges, they are encouraged by positive factors like political stability and are taking steps to navigate cost pressures.
