SRI LANKA: LIBERALIZING FOR GROWTH
Sri Lanka has an open business environment, but challenges—not least its recovery from the civil war that ended in 2009—remain.
Sri Lanka GDP and Economic Data
Country Report 2017 - 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.
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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)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 6.8% | 6% | 3.5% | 8% | 8.4% | 9.1% | 3.4% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 5% | 5% | 4.5% | 3.3% | 3% |
*Estimate
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.13% | 0.14% | 0.16% | 0.18% | 0.22% |
*Estimate
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GDP - composition by sector
- agriculture: 7.9%
- industry: 27%
- services: 56.8%
(2018 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 2.2% | 4% | 6.6% | 4.3% | 4.1% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017* | 2018* | 2019* |
| 4.7% | 4.4% | 4.4% | 4.4% | 4.4% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 78.5% | 79% | 77.4% | 83.3% | 83% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -7% | -5.3% | -5.5% | -5.3% | -5.7% |
*Estimate
Government bond ratings
Standard & Poor's: B
Moody's: B2
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 18.7 billion | USD 19.0 billion | USD 15.6 billion |
Source
Current account balance by percentage of GDP
-3.2 % (2018 estimate)
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)
Export commodities
Textiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish
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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)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 897 million | USD 1,373 million | USD 1,611 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 237 million | USD 72 million | USD 68 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 19 million | USD 62 million | N/A | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
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
Source
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)
Source
Source
Capital
Colombo (commercial capital); Sri Jayewardenepura Kotte (legislative capital)
Source
Languages
Sinhala (official and national language) 87%, Tamil (official and national language) 28.5%, English 23.8% (2012 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.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 17.33 million | 18.78 million | 20.2 million | 20.97 million | 22.18 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 16.4% | 18.6% | 18.4% | 18.5% |
Literacy
Total population: 91.9%
Male: 93%
Female: 91%
Definition: age 15 and over can read and write (2017 est.)
% 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)
Source
Freedom House rating
Partly Free
Political Rights: 3
Civil Liberties: 4 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 11.6% Mobile: 115.1% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)