How the Russian-Ukraine War Could Impact Sri Lankan People Lifestyle

 How the Russian-Ukraine War Could Impact Sri Lankan People Lifestyle    

             Russia's war against to Ukraine already created huge risk to world economy, which not yet fully recovered from the pandemic situation. People thinks that this is most serious war in Europe since 1945. Russia is one of main Oil & Gas exporter to European market & with the situation Oil barrel price jumped above $100. In the situation other major Oil exporters in Middle East countries got benefitted with more requirement of Oil for world market with premium price.    

                Sri Lanka mostly imports Wheat from Russia & Soybeans, Sunflower Oil, Pears & Seeds from Ukraine & also semi-finished product of Streel and Iron, Copper & Asbestos. Other end Russia & Ukraine are two main countries that Sri Lanka exports Black Tea. With the current Sri Lanka economic crisis facing more crisis due to Oil price hike, which is almost doubled a month ago & also the price of other products goes up by almost 15% - 20%. 

                 With current inflation in Sri Lanka, peoples struggling to move with their normal lifestyle, with the high prices of very basic food items and Oil prices, as well as lack of Oil for demand of country Sri Lankan struggle to move with their day-to-day life. Specially lots of low-income families struggle to do their attend on their work as well as feed the families with basic needs. Lots of small businesses get impacted and struggled to run with operation. Family income has come down with high inflation situation. Even the employees work for monthly salary in reputed companies also not get benefitted with salary hick, as even the bigger players in market also struggled with high inflation of Oil prices & struggle and on top of that with current power cut situation in country companies face more difficulty, as lack of Oil situation not support to run generators and also the companies compelled go for cost reductions & some will limit from additional benefits (fuel allowance, limit office transport, meals benefits, etc...) from employees what they enjoyed. Also, the Dollar inflation became serious issue for all the business in Sri Lanka. So even big players face such issue & that will directly impact their employees’ lifestyles.  

                From exports also Sri Lanka got impacted as Tea export to Russia, Ukraine markets demand comes down with situation & also Sri Lanka apparel export to Europe countries also got reduced as people must spend more on basic needs. $461 million dollar worth of external trade between Sri Lanka with Russia & Ukraine in under threat due to war, which is further impact of Sri Lankas lifestyle.

                So even Sri Lanka has no threat in geographically coz of Russia - Ukraine war, indirectly this has impacted for Sri Lankans lifestyles badly.

References 

Hamza, M. (2022) Sri Lanka trade of US$461mn threatened by Russia invasion of Ukraine
Holland, B., Johnson, S., Rush, J., Wong, A. and Orlik, T. (2022) How war in Ukraine Threatens the World's Economic Recovery
Wijesinghe, A. (2022) Russia-Ukraine conflict: Economic implications for Sri Lanka 



 

Comments

  1. Prasad18 March 2022 at 19:24

    Very good article. Helpful to understand present market crisis on ground in SL.
    All the very best 👍

    ReplyDelete
  2. Sachini Gamage18 March 2022 at 20:31

    You have explained well how this war effected to the Sri Lankan economy and our life styles. Specially in import and export sector in Sri Lanka and the employees in those sectors. Valuable topic to discuss these days. All the very best.

    ReplyDelete
  3. Uditha Arawpola19 March 2022 at 01:36

    You have very simply explained what you want in a very succinct manner how this conflict has indirectly had a negative influence on Sri Lankans' lifestyles and economies. Great post & all the best!

    ReplyDelete
  4. Dilini MBA19 March 2022 at 08:19

    This is a timely discussion of a very important topic which affects the Sri Lankan economy. The discussion on how it affects the import and export sectors is well explained.

    Thank you,

    Dilini Karunaratne

    ReplyDelete
  5. Hasitha19 March 2022 at 18:26

    Good topic currently performing in Sri Lanka negatively. Article shows the dark side of crisis. Journal will be more perfect if you can apply with HRM further. All the best !!!

    ReplyDelete
  6. Rifkana mba 24th batch20 March 2022 at 02:00

    With your article we can understands that how the war reflects to Sri Lankan economy. Sri Lankans one of the Main export is Tea and due to the war if the Market prices drops it will effect Sri Lankas economy further. if this situation continued Sri Lankan income will go down further and we have face Poverty situation here

    ReplyDelete
  7. Unknown20 March 2022 at 08:49

    You have well explain how the war has influence the Sri Lankan economy and the employee lifestyle. Good Luck.

    ReplyDelete
  8. Mafaz20 March 2022 at 12:58

    Hi Mani, Interesting topic and well laid out the impacts of the crisis. I'd look forward to read how employers should take actions to empower and help its employees in a situation like this ,and what be the HR theories HR can adapt.

    ReplyDelete
  9. ShashithaMBA2420 March 2022 at 23:44

    Well explained Russian & Ukraine war impact to sri lankan government & peoples lifestyles, how sri lankan people struggling to move their lifestyle & basic needs.. can get helpful idia about present market crisis in sri lanka. Good job..

    ReplyDelete
  10. Amjad Aboobakar21 March 2022 at 02:45

    Briefly speaking on the situation is impressive, and an addition from HRM view would have been excellent.

    ReplyDelete
  11. Chaminda21 March 2022 at 14:29

    Good post; you describe how the war has affected the economy and employee lifestyles quite nicely.

    ReplyDelete

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