Brief Report on “Sri Lanka Beyond Your Dreams” held on 08th March 2024, Hilton Hotel, Dubai, UAE
Towards a digital Sri Lanka: Sri Lankan Embassy in Washington DC hosts an interactive discussion
Sri Lanka Tourism shines bright in Tunisia
Sri Lanka Thailand Free Trade Agreement (SLTFTA )
Sri Lanka Tourism Promotion event in Alexandria Governorate
SRI LANKA SHINES BRIGHT AT VIETNAM EXPO 2023: INNOVATIVE APPROACH FOR FUTURE COLLABORATION
The Embassy of Sri Lanka in Viet Nam participates in the International Food Festival 2023
Products of Sri Lankan SMEs enthrall and fascinate Vietnamese in Ha Noi

Latest News

View all news

Vision

“Raising living standards of the people through international trade relations”

Mission

“To develop and promote Sri Lanka’s foreign trade relations at bilateral, regional and multilateral levels by the effective implementation of government trade policy, with a view to raising the standards of living and realizing a higher quality of life through the increase of total production, income and employment levels, thereby actively contributing to the overall economic growth of Sri Lanka.”

                                                                                                                                                                                              (Value in US$ Mn)

 

HS No

Product Description

2020

2021

Change (%)

Share in 2021 (%)

140490

Betel leaves

          15.96 

          18.27  

14.4

29.3

400121

Natural rubber in the other forms: smoked sheets: R.S.S.1

6.16 

5.23 

-15.1

8.4

080112

Coconut: In the inner shell

          4.17 

          4.76 

14.3

7.6

681140

Containing asbestos: corrugated sheets

          1.06 

          4.36 

310.5

7.0

441114

Medium density fiberboard (MDF) : Of a thickness exceeding 9 mm : Other

          3.02 

          2.18 

-28.0

3.5

401511

Gloves, mittens, and mitts: Surgical

          1.58 

          2.17 

37.2

3.5

850720

 Electric accumulators, including separators

          1.00 

          1.75 

74.0

2.8

080111

Coconuts: Desiccated: Other

          1.24 

          1.72 

38.5

2.8

740811

refined copper: Of which the maximum cross-sectional dimension exceeds 6 mm

          1.55 

          1.64 

5.9

2.6

854411

Winding wire: --Of copper: --- Other

          0.62 

          1.59 

157.0

2.6

400129

Other: Crepe: Block rubber

          1.66 

          1.47 

-11.0

2.4

120300

Copra

          1.56 

          1.35 

-12.9

2.2

681182

Not containing asbestos:  Other sheets panels tiles and similar articles

          0.03 

          1.33 

4093.9

2.1

530500

Of coconut (coir) : molded products for use in horticulture

          0.89 

          1.10 

24.0

1.8

401120

Of a kind used on buses or lorries : Having a rim size 20 inches and above : Other

          1.00 

          1.07 

7.0

1.7

 

Other

11.46

12.26

6.9

19.7

 

Total

52.96

62.25

17.5

100

                                                                                                              Source: Sri Lanka Customs

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                                       

 

 

Year

Exports (USD  Mn)

Imports (USD Mn)

Total Exports to Pakistan

Exports under PSFTA

% under PSFTA

Total Imports from Pakistan

Imports under PSFTA

% under PSFTA

2015

73.10

58.84

80.5

297.41

42.76

14.4

2016

63.80

51.52

80.8

304.33

20.72

6.8

2017

74.01

60.33

81.5

350.11

15.81

4.5

2018

75.94

50.72

66.8

428.55

41.24

9.6

2019

81.53

60.76

74.5

369.78

23.91

6.5

2020

74.27

52.96

71.3

324.26

10.81

3.3

2021

91.86

62.25

67.7

394.34

12.32

3.1

                                    Source: Sri Lanka Customs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year

Sri Lanka’s Export to Pakistan

Share of total Sri Lanka’s export to the world

Sri Lanka’s Import from Pakistan

Total Bilateral Trade

Trade Balance

 
 

1995

43.20

1.14

52.40

95.60

-9.20

 

2000

29.59

0.56

68.61

98.20

-39.03

 

2005

43.02

0.70

115.56

158.58

-72.54

 

2010

60.45

0.73

282.11

342.57

-221.66

 

2015

73.10

0.72

297.41

370.51

-224.31

 

2016

63.80

0.62

304.33

368.13

-240.53

 

2017

74.01

0.65

350.11

424.12

-276.10

 

2018

75.94

0.64

428.55

504.49

-352.61

 

2019

81.53

0.68

369.78

451.31

-288.25

 

2020

 74.27  0.75  324.26  398.53  -249.99  
2021  91.86  0.75  394.36  486.22  -302.50  

                                                                                                                           Source: Sri Lanka Customs/ Trade Map

In order to receive PSFTA benefits, the merchandise exported between Pakistan and Sri Lanka should comply with the following Rules of Origin criteria.

Wholly Obtained Products

All wholly obtained products such as tea, fish, spices etc. will be able to enjoy duty free benefits at each other's markets without difficulty, provided they are eligible for duty concessions.

Products not Wholly Produced or Obtained

These include the products manufactured using imported raw materials. In order to enjoy PSFTA benefits, the products should comply with the following criteria.

  • The Domestic Value Addition (DVA) in the exporting country should not be less than 35% of the FOB value of the finished product and
  • HS Codes of the imported raw materials and the finished products should be different at 6-digit level. (Change of Tariff Heading criteria)

Cumulative Rules of Origin

The Cumulative Rules of Origin encourage the contracting states (Pakistan and Sri Lanka ) to source raw materials needed for their exports form each other. Accordingly, an exporter has to show only a minimum DVA of 25% of the FOB value of the finished product, provided the raw materials imported from the other contracting state accounts for not less that 10% of the FOB value of the particular product. (In other words, the aggregate value addition should not be less than 35% of the FOB value of the finished product, while the DVA in the exporting country should be minimum 25% of the FOB value)