Sri Lanka France Trade Relations

Sri Lanka –France Trade Relations

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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.