Sri Lanka France Trade Relations

Sri Lanka –France Trade Relations

 

       
 

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  1. Sri Lanka’s Exports, Imports, Total Trade & Balance of Trade with France

             

 

Year

Export

Share of total export to the world (%)

Import

Total Trade

Balance of Trade

2005

120.62

1.96

141.99

262.61

-21.37

2006

154.23

2.28

140.09

294.32

14.15

2007

176.27

2.30

154.52

330.79

21.75

2008

180.60

2.21

182.86

363.47

-2.26

2009

144.35

2.03

99.88

244.24

44.47

2010

159.79

1.92

151.15

310.93

8.64

2011

184.16

1.84

228.77

412.93

-44.61

2012

182.19

1.94

145.12

327.31

37.08

2013

194.81

1.95

134.67

329.48

60.15

2014

280.52

2.48

162.92

443.45

117.60

2015

201.10

1.93

116.53

317.63

84.57

2016

172.20

1.63

295.04

467.24

-122.84

2017

197.75

1.68

159.91

357.66

37.85

2018

196.77

1.60

279.64

476.41

-82.87

2019

192.54

1.64

220.53

413.07

-27.99

2020

184.25

1.86

116.30

300.55

67.95

2021

246.03

2.01

137.44

383.46

108.59

 

 

The value of Sri Lanka’s exports to France reached its peak level in 2021 with a value of USD 246.03 million. The trade balance between the two countries has been erratic. On the imports front, the value of imports shows an irregular trend during the last five years. Value of both exports and imports increased in 2021 compared to 2020.

 

Preferential Trade

 

The European Community was the first to implement their Generalized System of Preferences (GSP) scheme in 1971. The current EU's GSP scheme entered into force from 01/01/2014 and will last until the end of 2023. The GSP Plus (GSP+) is a special component of the GSP scheme that provides additional trade incentives to developing countries already benefitting from GSP covering duty free access for over 7200 products. Being a member of the European Union, France provides preferential access for Sri Lanka’s exports under EU GSP+ scheme.

 

 

  1. Scope for further expansion of Sri Lanka’s Exports to France

 

Identified potential items which can be further promoted in France are as follows;

  • Gloves with plastics/rubber
  • Black tea
  • Women's briefs & panties of cotton
  • Brassieres
  • Babies' garments & accessories of cotton
  • Women's trousers & shorts of cotton