Sri Lanka - Market OpportunitiesSri Lanka - Market Opportunities
Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities.Last Published:7/22/2019Sri Lanka is an upper middle-income country with a sizeable middle class that seeks U.S. and Western products, services and agricultural goods. However, the country still has significant infrastructure needs and the government continues to invest in roads, public transportation, ports, airports, public housing, waste and water treatment, and power projects. As a hub for tourism, Sri Lanka also requires a range of services and high-end products. Sri Lanka also seeks to position itself as a logistics and technology hub for the region, which creates an opportunity for information technology equipment and services exports. Priority sectors include:
Infrastructure Development: Engineering, construction and equipment products and services for road, power plants, sewage, water, rail, port, and airport projects.
Real Estate and Construction: The country’s construction sector has grown rapidly over the past nine years in development of high-end residential, commercial space, hotel and resort construction, and infrastructure with the sectors contribution to GDP in 2018 estimated at around 7.5 percent. The annual value of the construction sector is estimated at $3 billion. Many local and international construction companies are active in the industry.
Textiles: Sri Lanka imports approximately $2.7 billion of textiles and yarn annually for the apparel industry and requires a range of equipment and services.
Agriculture: A growing need for wheat grain, lentils, cotton yarn, and fruits and development of agriculture related infrastructure, including cold-storage facilities.
Telecommunications and Technology: Sri Lanka aims to become an information technology hub. In addition, the Government of Sri Lanka and private sector institutions are digitizing records and processes and upgrading existing networks and systems.
Franchising: Franchises offer another opportunity to appeal to tourists and a growing middle class.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.