Browse a full set of economic indicators

Sri Lanka

Includes Sri Lanka real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Sri Lanka economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Sri Lanka best banks and safest banks are also available.

Basic Information

Government Type: Presidential republic

Capital City: Colombo (commercial capital); Sri Jayewardenepura Kotte (legislative capital)

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank Central Bank of Sri Lanka
Currency Sri Lankan rupees (LKR)
International Reserves USD 6.9 billion (2018)

International Monetary Fund (IMF), data October 2019
Gross Domestic Product – GDP USD 88.2 billion (2018, estimate)
GDP (Purchasing Power Parity) Intl$ 290.6 billion (2018, estimate)

GDP Data

Real GDP growth 2007: 6.8%
2008: 6.0%
2009: 3.5%
2010: 8.0%
2011: 8.4%
2012: 9.1%
2013: 3.4%
2014: 5.0%
2015: 5.0%
2016: 4.5%
2017*: 3.3%
2018*: 3.0%

*Estimate
GDP per capita – current prices USD 4,067.9 (2018, estimate)
GDP per capita – PPP Intl$ 13,397.5 (2018, estimate)
GDP (PPP) – share of world total 1980: 0.13%
1990: 0.14%
2000: 0.16%
2010: 0.18%
2019*: 0.22%

*Estimate
GDP – composition by sector agriculture: 7.9%
industry: 27%
services: 56.8%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2015: 2.2%
2016: 4.0%
2017: 6.6%
2018*: 4.3%
2019*: 4.1%

*Estimate

Inflation & Debt

Inflation 2015: 2.2%
2016: 4.0%
2017: 6.6%
2018*: 4.3%
2019*: 4.1%

*Estimate
Government Bond Ratings Standard & Poor’s: B

Moody’s: B2

Standard & Poor’s / Moody’s
Unemployment rate 2015: 4.7%
2016: 4.4%
2017*: 4.4%
2018*: 4.4%
2019*: 4.4%

*Estimate
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2015: 78.5%
2016: 79.0%
2017: 77.4%
2018*: 83.3%
2019*: 83.0%

*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2015: -7.0%
2016: -5.3%
2017: -5.5%
2018*: -5.3%
2019*: -5.7%

*Estimate
Market value of publicly traded shares 2016: USD 18.7 billion
2017: USD 19.0 billion
2018: USD 15.6 billion
Largest Companies N/A

Import/Export

Exports as percent of GDP (Exports of goods and services) 22.8% (2018)
Shares in world total merchandising export
0.06% (2018)
Shares in world total commercial services export 0.15% (2018)
Total exports USD 20.3 billion (2018 estimate)
Export commodities extiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish
Total imports USD 26.8 billion (2018 estimate)
Import commodities Petroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs
Exports – major partners US 24.6%, UK 9%, India 5.8%, Singapore 4.5%, Germany 4.3%, Italy 4.3% (2017)

Imports – major partners India 22%, China 19.9%, Singapore 6.9%, UAE 5.7%, Japan 4.9% (2017)

Competitiveness & Trade

Current account balance USD -2.8 billion (2018 estimate)
Current account balance by percentage of GDP -3.2 % (2018 estimate)
FDI inflows 2016: USD 897 million
2017: USD 1,373 million
2018: USD 1,611 million
FDI Outflows 2016: USD 237 million
2017: USD 72 million
2018: USD 68 million
Value of cross-border M&A, by country of purchaser 2015: USD 19 million
2016: USD 62 million
2017: N/A
2018: N/A
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

​99 out of 190 countries

Subcategories:
Starting a Business: 85 out of 190 countries
Dealing with Construction Permits: 66 out of 190 countries
Getting Electricity: 89 out of 190 countries
Registering Property: 138 out of 190 countries
Getting Credit: 132 out of 190 countries
Protecting Minority Investors: 28 out of 190 countries
Paying Taxes: 142 out of 190 countries
Trading across Borders: 96 out of 190 countries
Enforcing Contracts: 164 out of 190 countries
Resolving Insolvency: 94 out of 190 countries
Global competitiveness ranking 84 out of 141 countries

(2019)

Index of Economic Freedom Ranking: 115 / Score: 56.4 (Mostly unfree)

(100=totally free 0=totally repressed)

Population & Geographic Data

Time Zone UTC+5.5

Total Area 65,610 sq km
Total Population 1990: 17.33 million
2000: 18.78 million
2010: 20.2 million
2015: 20.97 million
2020*: 22.18 million

*Estimate
Urban population as % of total population 1960: 16.4%
1980: 18.6%
2000: 18.4%
2018: 18.5%
Population median age 33.1 years
Population growth rate 0.73% (2018 estimate)
Life expectancy 77.1 years (2018 estimate)
% of population living on less than $3.10 a day
10.1% (last available estimate, 2016)
Inequality of wealth distribution (Gini index) 39.8 (last available estimate, 2016)

(0=perfect equality, 100=absolute inequality)
Freedom House rating Partly Free
Political Rights: 3
Civil Liberties: 4 (2019)
(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population
Fixed: 11.6% Mobile: 115.1% (2018)

(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 34.11 % (2017)

Language & Religon

Languages Sinhala (official and national language) 87%, Tamil (official and national language) 28.5%, English 23.8% (2012 est.)
Literacy Total population: 91.9%
Male: 93%
Female: 91%
Definition: age 15 and over can read and write (2017 est.)
Religions Buddhist (official) 70.2%, Hindu 12.6%, Muslim 9.7%, Roman Catholic 6.1%, other Christian 1.3%, other 0.05% (2012 est.)

World Rankings

Population 22.18 M
Mercer Cost of living index Colombo: 182nd (2019)
C02 Emissions per capita 0.89 metric tons per capita (2014)

Global Finance Rankings & Awards: Sri Lanka

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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