Exports contributing little to economy
Sri Lanka’s industrial production barely grew in the second quarter of 2018 with exports contributing little to growth and recent import tariff hikes are counter-productive to increasing competitiveness, a new World Bank report said. In India and Sri
Lanka, the contribution of investment is projected to be relatively more important in 2018. But even there, the World Bank said, the main driver remains domestic consumption. “In both countries exports contribute relatively little to growth,” it said.