Sri Lanka – Italy: Economic Relations
In 2022, the trade exchange between Italy and Sri Lanka reached 826 million euros, the highest value in the last seven years, thanks to two consecutive years of strong growth: +22.4% compared to 2020 and +14.4% compared to 2021, resulting in a total exchange that has grown by 40% compared to the 590 million of 2020. This trend is not confirmed for 2023, a year in which projections show a slight slowdown. The latest available data for the period of January to October 2023 indicate a decline from 693 to 655 million compared to the same period the previous year, with Sri Lankan exports maintaining values similar to the previous year, while Italian exports register a more significant decrease.
Italy remains the fourth-largest destination market for Sri Lankan exports and the sixteenth supplier to the country. Conversely, Sri Lanka is the 99th destination market for Italian exports and the 70th supplier to Italy.
Italy primarily exports textiles, fibers, and fabrics to Colombo, which supply the local textile industry, the most important manufacturing sector in Sri Lanka. Machinery, especially for the textile, ceramics, and agri-food industries, represents another significant category in our country’s exports.
Italian imports from Sri Lanka mainly concern clothing products, which export a large part of local production to Italy. Other imported goods include items derived from rubber processing, jewelry, costume jewelry, precious stones, and seafood.
It is noteworthy that the bilateral exchange has historically recorded a continuous and solid surplus in favor of Sri Lanka, as shown in the table on bilateral trade data, also confirmed by partial data from 2023.
For further information, please visit the summary sheet and/or Economic Outlook page.
Doing Business in Italy
If you are interested in doing business in Italy, we suggest consulting:
- The guide Doing Business in Italy;
- The ICE/ITA Agency website with their Invest in Italy portal, where you can find information regarding business opportunities and high-level tutoring services for foreign investments;
- Economic statistics on the Italian economy from the Bank of Italy;
- The Invitalia website, the national agency for attracting investments and business development, owned by the Ministry of Economy and Finance;
- The Infocamere portal, a company of the chamber system that manages the Business Registry, allowing access to information contained in the Business Registry, the database of Patents and Trademarks, as well as the Business Registries of other EU countries.
Doing Business in Sri Lanka
The Commercial Section of the Italian Embassy (commerciale.ambcolombo@esteri.it) is available for individuals and businesses seeking more information to plan their investments in Sri Lanka. Visiting the websites listed below or contacting the local Chambers of Commerce can be a good way to gather detailed information on local markets and connect with affiliated trade associations.
Chambers of Commerce
The Ceylon Chamber of Commerce
50, Navam Mawatha,
Colombo 02,
Sri Lanka
Tel: (0094) 11 – 2421745-7, 2329143, 5588800 (30 hunting lines)
Fax: (0094) 11 – 2437477, 2449352, 2381012
Email: info@chamber.lk
Website: http://www.chamber.lk/
Federation of Chambers of Commerce & Industry of Sri Lanka (FCCISL)
Level 3, 53 Vauxhall Lane,
Colombo 2,
Sri Lanka
Tel: +94-11-2304254
Fax: +94-11-2304255
Website: http://www.fccisl.lk/
Email: form on website
Previous email: fccisl@pan.lk
National Chamber Of Commerce of Sri Lanka
450, D.R. Wijewardena Mawatha,
Colombo 10,
Sri Lanka
Tel: +094 5 374801-4/6/7
Fax: +094 1 2689596
Email: sg@nccsl.lk
European Chamber of Commerce of Sri Lanka (ECCSL)
39, Deanston Place,
Colombo 03,
Sri Lanka
Tel: +94 11 2375486-7
Fax: +94 11 2375489
Email: eccsl@sltnet.lk
Website: http://www.eccsl.com/
Useful Addresses – Boards#
Board of Investment of Sri Lanka
Level 26, West Tower,
World Trade Center,
Colombo 01, Sri Lanka.
Tel: (+94 11) 2427000
Fax: (+94 11) 2447995
Email: webmaster@boi.lk
Website: http://www.boi.lk/
Sri Lanka Export Development Board (EDB)
42 Nawam Mawatha
Colombo 2
Tel: 94-1-300705-11
Fax: 94-1-300715
Email: edb@tradenetsl.lk or form on website
Website: http://www.srilankabusiness.com/
Useful Addresses – Export Insurance
Sri Lanka Export Credit Insurance Corporation (SLECIC)
Level 4, Export Guarantee House
42, Navam Mawatha
Colombo 02
Sri Lanka
Tel: +94 (0) 4719410 – 14
+94 (0) 5378161 – 65
Fax: +94 (0) 4719400
Email: info@slecic.lk