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Sri Lanka – Italy Trade Relations

Sri Lanka’s trade with Italy has recorded a considerable increase during the recent years, except in 2009. The value of total trade between the two countries registered at US $ 604.49 Mn. in 2009, which is a declined by 10.7% over the previous year due to decline in exports from Sri Lanka to Italy as well as imports from Italy  to Sri Lanka, as could be seen from the following table.

Sri Lanka Exports, Imports, Total Trade & Balance of Trade with Italy

Value in US$ Mn. (2005-2009)

Year

Sri Lanka’s
Exports

Sri Lanka’s Imports

Total Trade Turn Over

Balance of Trade

2005

198.52

150.57

349.09

47.95

2006

260.36

159.10

419.46

101.26

2007

392.22

208.80

601.02

183.42

2008

445.05

232.46

677.51

212.59

2009

437.29

167.20

604.49

270.09

Source: Sri Lanka Customs

The trade balance between the two countries has been continuously in favour of Sri Lanka, which was mainly due to the increased exports of apparel and clothing accessories to Italy.

Sri Lanka’s Exports to Italy

There has been a significant increase in Sri Lanka’s exports to Italy during recent past except for 2009, when total exports were decreased by 1.75% in 2009. Clothing and accessories have been the major export items to Italy during the past several years and the contribution in 2009 was about 79% of the total exports.   Other leading export items were fish & crustaceans (5.8%), molluscs & other aquatic invertebrates, smoking tobacco, solid tires(2%) , tea (1.85%) footwear (1.45%).

Tea

According to 2008 statistics, Sri Lanka was the main supplier of tea to Italy. Sri Lanka’s main competitors were Kenya, India, Vietnam and China.  During the period 2004-2008, growth in Sri Lankan tea exports to Italy in terms of value and quantity were 16% and 6% respectively.  In addition, during this period, Sri Lanka’s market share for tea was 13%  in the Italian Market.

Articles of Apparel & Clothing Accessories not knit or crochet (HS; 62)

According to 2008 statistics, Sri Lanka was ranking in the 21st place among the suppliers of said product to Italy. Sri Lanka’s main competitors in Italian market are Tunisia, France, Turkey, India, Bangladesh, Belgium, Germany, Hong Kong and others. During the period of 2004-2008, growth in Sri Lankan exports of the above product to Italy was 41% in terms of value.

Sri Lanka’s major export items to Italy 2005-2009 (Value in US$. Mn)

Hs Code

Description

2005

2006

2007

2008

2009

61 to 62

Articles of apparel clothing accessories

139.307

173.916

276.831

323.970

348.893

03

Fish & crustaceans, molluscs & other aquatic invertebrates

0.911

7.003

10.180

15.868

25.549

401290

Solid tyres

9.177

12.843

10.857

12.562

8.683

0902

Tea

4.612

4.881

7.648

8.476

8.133

6403

Footwear

1.402

4.628

10.782

10.708

7.079

401199

Other rubber tyres

4.486

4.911

6.431

5.754

3.151

71

Natural or cultured pearls,stonesimt. jewellery etc.

0.876

4.269

6.617

9.699

0.238

401519

Gloves

8.018

7.184

6.637

5.077

6.368

240310

Smoking tobacco

3.152

3.837

10.493

13.195

6.1

Source: Department Of Customs

Articles of Apparel & Clothing Accessories knit or crochet (HS; 61)

Though Sri Lanka was ranking in the 23rd place among the suppliers of said product to Italy, the exports has shown an upward trend in both quantity and value. While in 2008, France being the first largest exporter, Sri Lanka’s main competitors in Italian market includes India, Bangladesh, Belgium, Germany, Hong Kong, and others.

Sri Lanka’s Imports from Italy

Sri Lanka’s major imports from Italy have been knitted or crocheted fabrics, woven & tufted textile fabric, tobacco, man- made staple fibres, man made filaments, cotton, silk, natural or cultured pearls, stones and jewellery, etc. The total value of Sri Lanka’s imports from Italy in 2009 accounted for US $ 167.208 Mn, an increase of 28% over the previous year. Knitted or crocheted fabrics accounted for 40% total import value in year 2009.

Sri Lanka’s major imports items from Italy 2005-2009 (Value in US$.Mn)

Hs Code

Description

2005

2006

2007

2008

2009

60

Knitted or crocheted fabrics

33.970

35.078

50.802

72.045

66.028

58

Special woven & tufted textile fabrics (lace etc.)

10.427

15.372

23.655

26.104

21.041

240110

Tobacco,not stemmed/stripped

7.725

4.928

11.004

10.268

4.233

54

Man - made filaments

6.274

7.565

5.715

6.924

3.722

8451

Machinery for Washing, Cleaning, wringing,drying, iroing, pressing

3.647

4.633

4.401

3.080

3.685

411200

Leather further prepared after tanning or crusting, including

3.491

5.982

6.758

4.268

3.167


Contacts

The Chancery

  • Address: Via Adige, 2 - 00198 Rome
  • Tel 06.8840801 - 06.8554560
  • Fax: 06.84241670
  • Mail : embassy@srilankaembassyrome.org 

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