Sri Lanka


Sri Lanka Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Sri Lanka; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Central Bank of Sri Lanka
International Reserves US$ 6.739 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 64.914 billion (2011 estimate)
GDP (Purchasing Power Parity) 126.887 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
-1.5% 4% 5.9% 5.4% 6.2% 7.7% 6.8% 6%
2009 2010 2011 2012*
3.5% 8% 8.2% 7.5%

*Estimate

GDP per capita - current prices US$ 3,139 (2011 estimate)
GDP per capita - PPP $6,135 International Dollars (2011 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.1% 0.11% 0.12% 0.14% 0.16%

**Forecast

GDP - composition by sector
  • agriculture: 13% 
  • industry: 29.6% 
  • services: 57.4% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
3.5%(2008) 6.2% 6.7% 7.5%

*Estimate

Unemployment rate
2009 2010 2011 2012*
5.9% 4.9% 4.9%(2009) 4.9%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
N/A N/A N/A N/A N/A

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-7% -9.9% -8% -6.9% -6.2%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: B+

Moody's rating: B1

Moody's outlook: POS

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$8.133 billion US$19.92 billion US$19.44 billion
Largest companies in Sri Lanka N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -4.7 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP -7.3% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

21.7% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.06%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.07% (2011)(2007)

(Data were released in 2012)

Total exports US$10.51 billion (2012 estimate) 
Export commodities textiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish
Total imports US$19.08 billion (2012 estimate) 
Import commodities petroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs
Exports - major partners US 20.1%, UK 9.3%, India 6.3%, Italy 5.1%, Germany 5%, Belgium 4.5% (2011)
Imports - major partners India 26%, China 15.9%, Singapore 7.1%, Iran 6.2%, Japan 5% (2011)
FDI inflows
2009 2010 2011
US$404 million US$478 million(2009) US$300 million(2009)
FDI outflows
2009 2010 2011
US$20 million US$46 million US$50 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$6 million N/A(2009) N/A(2009) US$6 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 81 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 33 out of 185 countries(2009)

Enforcing Contracts: 133 out of 185 countries

Registering Property: 143 out of 185 countries

Getting credit: 70 out of 185 countries

Protecting investors: 49 out of 185 countries

Trading across border: 56 out of 185 countries

Paying Taxes: 169 out of 185 countries

Dealing with Construction Permits: 112 out of 185 countries

Getting Electricity: 103 out of 185 countries

Resolving Insolvency: 51 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
68

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 97 Score: 58.3 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+5.5
Total area 65,610 km2 (2006)
Capital Colombo (2009)
Currency Sri Lankan rupees (LKR) (2009)
Government type republic (2009)
Languages Sinhala (official and national language) 74%, Tamil (national language) 18%, other 8%
Religions Buddhist 69.1%, Muslim 7.6%, Hindu 7.1%, Christian 6.2%, unspecified 10% (2001 census provisional data)
Total population
1980 1990 2000 2012* 2017**
14.6 million 16.27 million 18.47 million 20.68 million 21.4 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
16.4% 18.8% 15.7% 15.1%
Population median age 31 years (2010)
Population growth rate 1% (2011)
Life expectancy 75 years (2010)
Adult literacy 91% (2005/2010)
% of population living on less than $2 a day 29.13% (2011)
Inequality of wealth distribution (Gini index)

40.26 (2007)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:5
Civil Liberties:4 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

104.2% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 15% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Colombo: 154th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

0.6124 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Nordic Countries, 2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (Nordic, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (Stefan Ingves, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks HSBC (Global, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (Nordic Region, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Nordic Region, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (Nordic Region, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks HSBC (Nordic Region, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Commercial Bank of Ceylon (National, 2012)
2011:
  • COUNTRY WINNERS Commerical Bank of Ceylon (Nordic Region, 2011)
2010:
  • COUNTRY WINNERS Commerical Bank of Ceylon (Nordic Region, 2010)
2009:
  • COUNTRY WINNERS Commercial Bank of Ceylon (Nordic Region, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS Citi (Nordic Region, 2012)
2011:
  • COUNTRY WINNERS Citi (Global, 2011)
2010:
  • COUNTRY WINNERS Citi (Scandinavia, 2010)
2009:
  • COUNTRY WINNERS Citi (Nordic Region, 2009)

CENTRAL BANKER REPORT CARD

2012:
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE