Performance inclusion in Sri Lanka’s trade with Developing Countries

Abstract

International trade has been developed with the growth of the civilization as part of the human life. It is concerned with business transactions among the citizens of different nations. Although the international trade and globalization offer the world community more benefits, there also appear to have negative consequences ,particularly for low income countries. And developing countries differ widely among themselves. Due to the uneven distribution of the costs and benefits and as the result of the development of the trade and globalization ,developing countries are needed to find out new business partners. This study is focused on investigating performance of trade between Sri Lanka and other developing countries within the period 1977-2007(after introducing trade liberalization policies in Sri Lanka).Both deductive and inductive methods were used to analyze the data. Mainly five trading partners were demonstrated concurrently to the study and among them the highest place in the Sri Lanka’s trade was recorded by the group of Middle East countries within the considering time period. Western Hemisphere countries and African countries have recorded second and third place respectively. According to the study the most least contribution has been given in the overall trade was the U.S.S.R and Eastern European countries. Furthermore, study elicited the potential trade avenues and reflected rely on the several trading partners of the economy , after the liberalization . There can be seen a soaring transaction of trade among the developing countries after the period 1977 and it is obviously focal in the Middle East countries.