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Sri Lanka Economy 2016
http://www.theodora.com/wfbcurrent/sri_lanka/sri_lanka_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


















Sri Lanka Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 23, 2014

Economy - overview:
Sri Lanka continues to experience strong economic growth following the end of the 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, but fiscal consolidation efforts and strong GDP growth in recent years have helped bring down the government's fiscal deficit. However, low tax revenues are a major concern. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis. Agriculture slowed due to a drought and weak global demand affected exports and trade. In early 2012, Sri Lanka floated the rupee, resulting in a sharp depreciation, and took steps to curb imports. A large trade deficit remains a concern, but strong remittances from Sri Lankan workers abroad help offset the trade deficit. Government debt of about 80% of GDP remains among the highest in emerging markets.

GDP (purchasing power parity):
$134.5 billion (2013 est.)
country comparison to the world: 65

$126.6 billion (2012 est.)
$119 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$65.12 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.3% (2013 est.)
country comparison to the world: 32

6.4% (2012 est.)
8.2% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$6,500 (2013 est.)
country comparison to the world: 145

$6,100 (2012 est.)
$5,800 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
27% of GDP (2013 est.)
country comparison to the world: 39

24% of GDP (2012 est.)
22.1% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 69.7%
government consumption: 13.2%
investment in fixed capital: 29%
investment in inventories: 1.7%
exports of goods and services: 20.1%
imports of goods and services: -33.7%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 10.6%
industry: 32.4%
services: 57% (2013 est.)

Agriculture - products:
rice, sugarcane, grains, pulses, oilseed, spices, vegetables, fruit, tea, rubber, coconuts; milk, eggs, hides, beef; fish

Industries:
processing 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 rate:
10% (2013 est.)
country comparison to the world: 15
[see also: Industrial production growth rate country ranks ]

Labor force:
8.528 million (2013 est.)
country comparison to the world: 55
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 31.8%
industry: 25.8%
services: 42.4% (June 2012)

Unemployment rate:
5.1% (2013 est.)
country comparison to the world: 49

4% (2012 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
8.9% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.6%
highest 10%: 39.5% (2009)

Distribution of family income - Gini index:
49 (2010)
country comparison to the world: 22

46 (1995)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $8.43 billion
expenditures: $12.57 billion (2013 est.)

Taxes and other revenues:
12.9% of GDP (2013 est.)
country comparison to the world: 201
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.4% of GDP (2013 est.)
country comparison to the world: 182
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
78.4% of GDP (2013 est.)
country comparison to the world: 29

79.1% of GDP (2012 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 intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement; sub-national entities are usually not permitted to sell debt instruments
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
4.7% (2013 est.)
country comparison to the world: 152

9.2% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2013 est.)
country comparison to the world: 35

7.5% (19 December 2012 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
9.88% (31 December 2013 est.)
country comparison to the world: 44

14.4% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$3.629 billion (31 December 2013 est.)
country comparison to the world: 111

$3.539 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$23.55 billion (31 December 2013 est.)
country comparison to the world: 81

$20.39 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$32.98 billion (31 December 2013 est.)
country comparison to the world: 69

$28.86 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$18.48 billion (31 November 2013 est.)
country comparison to the world: 62

$17.05 billion (31 December 2012)
$19.44 billion (31 December 2011 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$2.452 billion (2013 est.)
country comparison to the world: 151

-$3.931 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$10.39 billion (2013 est.)
country comparison to the world: 93

$9.774 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
textiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish

Exports - partners:
US 20.4%, UK 9.9%, India 5.8%, Italy 4.7%, Belgium 4.3%, Germany 4.3% (2012)

Imports:
$18 billion (2013 est.)
country comparison to the world: 81

$19.19 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
petroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs

Imports - partners:
India 22.7%, Singapore 8.8%, UAE 7.7%, China 7%, Iran 6.1%, Malaysia 4.5% (2012)

Reserves of foreign exchange and gold:
$7.2 billion (31 December 2013 est.)
country comparison to the world: 83

$6.9 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$33.67 billion (31 December 2013 est.)
country comparison to the world: 70

$29.39 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Sri Lankan rupees (LKR) per US dollar -

129.6 (2013 est.)
127.6 (2012 est.)
113.06 (2010 est.)
114.95 (2009)
108.33 (2008)


NOTE: The information regarding Sri Lanka on this page is re-published from the 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Sri Lanka Economy 2016 information contained here. All suggestions for corrections of any errors about Sri Lanka Economy 2016 should be addressed to the CIA.




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