Sri Lanka’s rubber industry strengthened its position in global markets in 2024, driven by rising demand for its products in the healthcare and automotive sectors. Amid shifting trade dynamics, the industry maintained steady growth in the year, driven by the forays of industrial and surgical gloves that capitalized on evolving market needs.
Highlights
• Export earning crosses US$1 billion in 2024, up 7.66% from 2023
• Local downstream producers appalled over rubber yield fall
• Domestic tire industry in a bid to consolidate