In the latest Liner Shipping Connectivity Index (LSCI) recorded by the United Nations Conference on Trade and Development, Sri Lanka overtook Saudi Arabia as the 3rd best-connected country in the Middle East and Indian subcontinent. The country moved up two spots becoming the 22nd best-connected country in the world.
The LSCI can be considered a factor for accessibility to global trade through the shipping network. The higher the index, the easier it is to access a high-capacity and frequent global maritime freight transport system, thus allowing countries to effectively participate in international trade.
Sri Lanka’s index score increased by 7.5 percent year-over-year in the first quarter of 2024. Sri Lanka has built its competitive edge on value-addition rather than cheap production cost, with greater emphasis on product quality and its ability to manufacture niche products. These specialties include textiles and key materials for apparel including fabric, denim, and yarn.
“The Colombo port’s expansion enhances Sri Lanka’s industries by streamlining cargo handling and improving global connectivity. This boosts supply chain efficiency, benefiting manufacturing, agriculture, and retail sectors. It attracts foreign investment, creates jobs in logistics, and fosters economic growth, positioning Sri Lanka as a competitive global trade partner,” Sabri Aminuddin, Route Development Manager, South Asia.
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By Clarissa Chiclana
