unbekannter Gast

Sri Lanka: Economy#

Sri Lanka continues to experience strong economic growth following the end of the government's 26-year conflict with the Liberation Tigers of Tamil Eelam. The government has been pursuing large-scale reconstruction and development projects in its efforts to spur growth in war-torn and disadvantaged areas, develop small and medium enterprises, and increase agricultural productivity.

The government's high debt payments and bloated civil service have contributed to historically high budget deficits and low tax revenues remain a concern. Government debt of about 72% of GDP remains among the highest in emerging markets.

The new government in 2015 drastically increased wages for public sector employees, which boosted demand for consumer goods but hurt the overall balance of payments and reduced foreign exchange reserves.

Economic Facts#

GDP (purchasing power parity)$237.8 billion (2016 est.)
$226.5 billion (2015 est.)
$216.1 billion (2014 est.)
note: data are in 2016 dollars
GDP (official exchange rate)$82.24 billion (2015 est.)
GDP - real growth rate5% (2016 est.)
4.8% (2015 est.)
4.9% (2014 est.)
GDP - per capita (PPP)$11,200 (2016 est.)
$10,700 (2015 est.)
$10,300 (2014 est.)
note: data are in 2016 dollars
Gross national saving26.8% of GDP (2016 est.)
25.9% of GDP (2015 est.)
24.8% of GDP (2014 est.)
GDP - composition, by end usehousehold consumption: 69.4%
government consumption: 8.7%
investment in fixed capital: 26%
investment in inventories: 3.5%
exports of goods and services: 20.5%
imports of goods and services: -28.1% (2016 est.)
GDP - composition, by sector of originagriculture: 8.5%
industry: 30.9%
services: 60.6% (2016 est.)
Agriculture - productsrice, sugarcane, grains, pulses, oilseed, spices, vegetables, fruit, tea, rubber, coconuts; milk, eggs, hides, beef; fish
Industriesprocessing of rubber, tea, coconuts, tobacco and other agricultural commodities; telecommunications, insurance, banking; tourism, shipping; clothing, textiles; cement, petroleum refining, information technology services, construction
Industrial production growth rate5.6% (2016 est.)
Labor force9.062 million (2016 est.)
Labor force - by occupationagriculture: 28.4%
industry: 25.7%
services: 45.9% (30 Jun 2015)
Unemployment rate4.5% (2016 est.)
4.7% (2015 est.)
Population below poverty line8.9% (2010 est.)
Household income or consumption by percentage sharelowest 10%: 1.6%
highest 10%: 39.5% (2009)
Distribution of family income - Gini index49 (2010)
46 (1995)
Budgetrevenues: $10.98 billion
expenditures: $15.54 billion (2016 est.)
Taxes and other revenues13.4% of GDP (2016 est.)
Budget surplus (+) or deficit (-)-5.5% of GDP (2016 est.)
Public debt77.1% of GDP (2016 est.)
76% of GDP (2015 est.)
note: covers central government debt, and excludes debt instruments directly owned by government entities other than the treasury (e.g. commercial bank borrowings of a government corporation); the data includes treasury debt held by foreign entities as well as
Fiscal yearcalendar year
Inflation rate (consumer prices)4.3% (2016 est.)
0.9% (2015 est.)
Central bank discount rate6% (31 December 2015)
6.5% (31 December 2013)
Commercial bank prime lending rate9.8% (31 December 2016 est.)
6.96% (31 December 2015 est.)
Stock of narrow money$5.521 billion (31 December 2016 est.)
$4.963 billion (31 December 2015 est.)
Stock of broad money$31.84 billion (31 December 2016 est.)
$28.16 billion (31 December 2015 est.)
Stock of domestic credit$44.73 billion (31 December 2016 est.)
$39.22 billion (31 December 2015 est.)
Market value of publicly traded shares$20.8 billion (31 December 2015 est.)
$23.67 billion (31 December 2014 est.)
$18.81 billion (31 December 2013 est.)
Current account balance-$1.231 billion (2016 est.)
-$2.009 billion (2015 est.)
Exports$10.12 billion (2016 est.)
$10.5 billion (2015 est.)
Exports - commoditiestextiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish
Exports - partnersUS 26%, UK 9%, India 7.2%, Germany 4.3% (2015)
Imports$18.64 billion (2016 est.)
$18.93 billion (2015 est.)
Imports - commoditiespetroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs
Imports - partnersIndia 24.6%, China 20.6%, UAE 7.2%, Singapore 5.9%, Japan 5.7% (2015)
Reserves of foreign exchange and gold$7.06 billion (31 December 2016 est.)
$7.303 billion (31 December 2015 est.)
Debt - external$47.65 billion (31 December 2016 est.)
$45.47 billion (31 December 2015 est.)
Stock of direct foreign investment - at home$NA
Stock of direct foreign investment - abroad$NA
Exchange ratesSri Lankan rupees (LKR) per US dollar -
146.6 (2016 est.)
135.86 (2015 est.)
135.86 (2014 est.)
130.57 (2013 est.)
127.6 (2012 est.)