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Digital economy to give fillip to export earnings – CCC
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 $1.5 billion by 2025, according to the ‘Outlook 2025’ report from the Ceylon Chamber of Commerce.
The Chamber highlighted that investments in digital public infrastructure, such as digital IDs and e-government initiatives, will enhance efficiency, reduce waste, and further modernize the economy.
Additionally, the Chamber forecasts that the country’s economic growth will surpass 3-4 percent this year, fuelled by a resurgence in key sectors including tourism, retail, apparel, digital services, and renewable energy.
The tourism and retail sectors are expected to expand, while household consumption is also anticipated to rise. Apparel exports are projected to gradually rebound as demand stabilises in major markets like the U.S. and Europe. The agriculture sector, particularly tea and fisheries, is also expected to experience moderate growth as global commodity prices stabilize, the Chamber added.