{"id":821,"date":"2024-02-21T15:50:53","date_gmt":"2024-02-21T10:20:53","guid":{"rendered":"https:\/\/ambcolombo.esteri.it\/italia-e-maldive\/diplomazia-economica\/"},"modified":"2024-10-21T16:38:53","modified_gmt":"2024-10-21T11:08:53","slug":"diplomazia-economica","status":"publish","type":"page","link":"https:\/\/ambcolombo.esteri.it\/en\/italia-e-maldive\/diplomazia-economica\/","title":{"rendered":"Economic diplomacy"},"content":{"rendered":"

Sri Lanka – Italy: Economic Relations<\/strong><\/p>\n

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.<\/p>\n

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.<\/p>\n

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\u2019s exports.<\/p>\n

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.<\/p>\n

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.<\/p>\n

For further information, please visit the summary sheet<\/a> and\/or Economic Outlook page<\/a>.<\/p>\n

 <\/p>\n

Doing Business in Italy<\/strong><\/p>\n

If you are interested in doing business in Italy, we suggest consulting:<\/p>\n