💰 The Economy
📰 Sri Lanka’s Manufacturing PMI reflects positive momentum
Sri Lanka’s Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an
index value of 59 in January, signifying continued expansion in manufacturing activities. Survey
participants from the textiles and apparel manufacturing sector reported favorable
developments in January, leading to expansions in the sub-indices for new orders, production,
employment, and stock of purchases.
Link: https://tinyurl.com/5fydc3vk

📰 Central Bank of Sri Lanka (CBSL) maintains vigilance on US policy changes
The CBSL is closely monitoring key policy changes in the United States under President Donald
Trump’s second term, particularly potential tariff increases. A senior official stated that
significant adverse effects on the Sri Lankan economy are unlikely. S. Jegajeevan, Director of
the CBSL Economic Research Department, emphasized that the bank remains vigilant in
assessing these developments, while noting that several leading exporters are optimistic about
their potential impact on Sri Lanka’s apparel export sector.
Link: https://tinyurl.com/6h8dafb8

📰 Goods and services to be taxed more to fund budget 2025
Tax on goods and services will dominate the Government’s revenue for 2025, and it will be
more than 50 percent of the total tax revenue estimated, according to the budget presented
in Parliament on 17 February. Accordingly, The Government expects a tax revenue of LKR 4,
590 billion and LKR 2, 772 billion of it will be generated through goods and services.
Link: https://tinyurl.com/3v2ecjts

⚖ Politics & Policy
📰 Government aims for higher trade revenues with expanded FTAs and MSME support
On 18 February, the Government introduced an ambitious trade strategy under the five-year
National Export Development Plan (2025-2029). President Anura Kumara Dissanayake
emphasized that the strategy aims to enhance support for micro, small, and medium enterprises
(MSMEs), enabling them to access new export markets, expand existing ones, and integrate into
global value chains.
Link: https://tinyurl.com/4y2h7fb6

📰 Digital economy to drive growth in export earnings
The digital economy is expected to play an increasingly vital role in Sri Lanka, with IT and BPO
services projected to drive export earnings to over LKR 1.5 billion by 2025, according to the
‘Outlook 2025’ report from the Ceylon Chamber of Commerce. The Chamber forecasts that the
country’s economic growth will surpass 3-4 percent this year, fueled by a resurgence in key
sectors including tourism, retail, apparel, digital services, and renewable energy.
Link: https://tinyurl.com/mwymnk9v

📰 EDB strengthens export capabilities of eastern province entrepreneurs
The Sri Lanka Export Development Board (EDB) successfully organised an awareness seminar on
the New Exporter Development Programme on 18 February at the Techno Park of Eastern
University, Sri Lanka, in Batticaloa. The primary objective of the program was to encourage
domestic enterprises to invest in export industries while identifying and addressing the
challenges faced by businesses
Link: https://tinyurl.com/2bhvw6se

📰 ILO Director advocates for increased female workforce participation in Sri Lanka
International Labour Organisation Director for Sri Lanka and Maldives, Joni Simpson stated that
efforts should be made to further increase the female workforce participation in Sri Lanka,
which is currently 32 percent. The Director made this statement while participating as the Chief
Guest at the Women’s Conference 2025 of the Free Trade Zones and General Employees Union
held at Ja-Ela on 16 February.
Link: https://tinyurl.com/2znnyfvk

📰 Budget 2025 targets inclusive growth through bold reforms
The Ceylon Chamber of Commerce welcomed the bold proposals in the 2025 Budget, which
align with its recommendations, Sri Lanka Economic Summit discussions, and Vision 2030 goals.
The Budget prioritizes infrastructure expansion through Public-Private Partnerships (PPPs) and
digital economy initiatives, fostering national transformation. The Chamber commended the
Government’s commitment to reforming the Customs Ordinance and implementing the National
Single Window to enhance trade facilitation and ease of doing business. Additionally, the
Chamber acknowledged the planned amendments to the Economic Transformation Act and the
introduction of legislation on PPPs.
Link: https://tinyurl.com/3vt7hvmm

!? What you need to know
📰 Omega Line extends its support towards public health in Sri Lanka with 1990 Suwa Seriya Foundation
Omega Line Ltd has reaffirmed its commitment towards public health and community welfare
by refurbishing two ambulances in partnership with the 1990 Suwa Seriya Foundation’s ‘Adopt
an Ambulance’ initiative with a donation of LKR 10 million.
Link: https://tinyurl.com/y5crkzwx

📰 Sri Lanka’s apparel industry celebrated at Presidential Export Awards 2023/24
At the 26th Presidential Export Awards 2023/24, held on February 7 at BMICH, Colombo, Star
Garments Group won Best Exporter – Apparel Medium, while MAS Holdings secured multiple top
honors, including Exporter of the Year and Best Exporter – Apparel – Large Category. MAS also
received awards for Net Foreign Exchange Earner, Product Diversification, Sustainable
Development, Regional Contribution, and Emerging Markets Performance. Further, Ashok
Garment was named the Woman Exporter of the Year.
Link: https://tinyurl.com/25vb56ad https://tinyurl.com/bdff3u3a

Disclaimer – This Advisory is intended for circulation among JAAF stakeholders only. Please do
not circulate or share on social media. The Advisory includes economic, political, social and
governance perspectives. This Advisory was prepared by the Strategic Communications Unit of
Adfactors PR Lanka. For inquiries, contact sarah.muiz@adfactorspr.com