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Sir Lanka Main Page

 

Economy - overview:
Sri Lanka is engaging in large-scale reconstruction and development projects following the end of the 26-year conflict with the LTTE, including increasing electricity access and rebuilding its road and rail network. Additionally, Sri Lanka seeks to reduce poverty by using a combination of state directed policies and private investment promotion to spur growth in disadvantaged areas, develop small and medium enterprises, and promote increased agriculture, High levels of government funding may be difficult, as the government already is faced with high debt interest payments, a bloated civil service, and historically high budget deficits. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis, which was alleviated by a $2.6 billion IMF standby agreement in July 2009. The end of the civil war and the IMF loan, however, have largely restored investors' confidence, reflected in part by the Sri Lankan stock market's recognition as one of the best performing markets in the world. Sri Lankan growth rates averaged nearly 5% in during the war, but increased government spending on development and fighting the LTTE in the final years spurred GDP growth to around 6-7% per year in 2006-08. After experiencing 3.5% growth in 2009, Sri Lanka's economy is poised to achieve high growth rates in the postwar period.
GDP (purchasing power parity):
$104.7 billion (2010 est.)
country comparison to the world: 69
$97.91 billion (2009 est.)
$94.6 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$48.24 billion (2010 est.)
GDP - real growth rate:
6.9% (2010 est.)
country comparison to the world: 25
3.5% (2009 est.)
6% (2008 est.)
GDP - per capita (PPP):
$4,900 (2010 est.)
country comparison to the world: 148
$4,600 (2009 est.)
$4,500 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 12.6%
industry: 29.8%
services: 57.6% (2010 est.)
Labor force:
8.1 million (2010 est.)
country comparison to the world: 55
Labor force - by occupation:
agriculture: 32.7%
industry: 26.3%
services: 41% (December 2008 est.)
Unemployment rate:
5.4% (2010 est.)
country comparison to the world: 51
5.9% (2009 est.)
Population below poverty line:
23% (2008 est.)
Household income or consumption by percentage share:
lowest 10%: 1.1%
highest 10%: 39.7% (2004)
Distribution of family income - Gini index:
49 (2007)
country comparison to the world: 27
46 (1995)
Investment (gross fixed):
23.6% of GDP (2010 est.)
country comparison to the world: 51
Public debt:
86.7% of GDP (2010 est.)
country comparison to the world: 13
85.8% of GDP (2009 est.)
Inflation rate (consumer prices):
5.6% (2010 est.)
country comparison to the world: 154
3% (2009 est.)
Central bank discount rate:
7.25% (December 2010)
country comparison to the world: 55
7.5% (31 December 2009)
Commercial bank prime lending rate:
10.37% (December 2010)
country comparison to the world: 41
15.89% (31 December 2008)
Stock of narrow money:
$4.4 billion (31 December 2010 est)
country comparison to the world: 96
$3.628 billion (31 December 2009 est)
Stock of broad money:
$19.72 billion (31 December 2010 est.)
country comparison to the world: 83
$16.41 billion (31 December 2009 est.)
Stock of domestic credit:
$18.34 billion (31 December 2010 est.)
country comparison to the world: 82
$16.64 billion (31 December 2009 est.)
Market value of publicly traded shares:
$11.5 billion (December 2010)
country comparison to the world: 70
$8.133 billion (31 December 2009)
$4.326 billion (31 December 2008)
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:
6.9% (2010 est.)
country comparison to the world: 44
Electricity - production:
9.882 billion kWh (2008 est.)
country comparison to the world: 92
Electricity - consumption:
8.417 billion kWh (2008 est.)
country comparison to the world: 93
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
0 kWh (2008 est.)
Oil - production:
0 bbl/day (2008 est.)
country comparison to the world: 129
Oil - consumption:
90,000 bbl/day (2009 est.)
country comparison to the world: 80
Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 172
Oil - imports:
90,000 bbl/day (2007 est.)
country comparison to the world: 66
Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 118
Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 126
Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 175
Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 120
Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 131
Current account balance:
-$1.784 billion (2010 est.)
country comparison to the world: 154
-$291 million (2009 est.)
Exports:
$7.908 billion (2010 est.)
country comparison to the world: 92
$7.085 billion (2009 est.)
Exports - commodities:
textiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish
Exports - partners:
US 20.59%, UK 12.87%, Italy 5.51%, Germany 5.29%, India 4.54%, Belgium 4.43% (2009)
Imports:
$11.6 billion (2010 est.)
country comparison to the world: 85
$9.186 billion (2009 est.)
Imports - commodities:
petroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs
Imports - partners:
India 20.73%, China 13.45%, Singapore 7.26%, Iran 6.7%, South Korea 5.23% (2009)
Reserves of foreign exchange and gold:
$5.63 billion (31 December 2010 est.)
country comparison to the world: 66
$5.358 billion (31 December 2009 est.)
Debt - external:
$17.97 billion (31 December 2010 est.)
country comparison to the world: 76
$17.44 billion (31 December 2009 est.)
Stock of direct foreign investment - at home:
$NA
Stock of direct foreign investment - abroad:
$NA
Exchange rates:
Sri Lankan rupees (LKR) per US dollar - 113.36 (2010), 114.95 (2009), 108.33 (2008), 110.78 (2007), 103.99 (2006)
 

 

 


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