Ex­ports con­tribut­ing lit­tle to econ­omy

Maritime Gateway - - International News -

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.

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