Economy – overview: in sri lanka

Business Economy
91 Views
Sri Lanka continues to experience strong economic growth following the end of the government’s 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 and low tax revenues remain a concern. Government debt of about 72% of GDP remains among the highest in emerging markets.The new government in 2015 drastically increased wages for public sector employees, which boosted demand for consumer goods but hurt the overall balance of payments and reduced foreign exchange reserves.

GDP (purchasing power parity):

$237.8 billion (2016 est.) $226.5 billion (2015 est.) $216.1 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 62
[see also: GDP country ranks ]
GDP – real growth rate:
5% (2016 est.) 4.8% (2015 est.) 4.9% (2014 est.)
country comparison to the world: 38
[see also: GDP – real growth rate country ranks ]
GDP – per capita:
$11,200 (2016 est.) $10,700 (2015 est.) $10,300 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 134
[see also: GDP – per capita country ranks ]
Gross national saving:
26.8% of GDP (2016 est.) 25.9% of GDP (2015 est.) 24.8% of GDP (2014 est.)
country comparison to the world: 40
[see also: Gross national saving country ranks ]
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:
5.6% (2016 est.)
country comparison to the world: 31
[see also: Industrial production growth rate country ranks ]
Labor force:
9.062 million (2016 est.)
country comparison to the world: 55
[see also: Labor force country ranks ]
Unemployment rate:
4.5% (2016 est.) 4.7% (2015 est.)
country comparison to the world: 46
[see also: Unemployment rate country ranks ]
Distribution of family income – Gini index:
49 (2010) 46 (1995)
country comparison to the world: 22
[see also: Distribution of family income – Gini index country ranks ]
Budget:
revenues: $10.98 billion
[see also: Budget revenues country ranks ]
expenditures: $15.54 billion (2016 est.)
[see also: Budget expenditures country ranks ]
Taxes and other revenues:
13.4% of GDP (2016 est.)
country comparison to the world: 199
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-5.5% of GDP (2016 est.)
country comparison to the world: 168
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
77.1% of GDP (2016 est.) 76% of GDP (2015 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
country comparison to the world: 34
[see also: Public debt country ranks ]
Fiscal year:
calendar year
Inflation rate (consumer prices):
4.3% (2016 est.) 0.9% (2015 est.)
country comparison to the world: 166
[see also: Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
6% (31 December 2015) 6.5% (31 December 2013)
country comparison to the world: 68
[see also: Central bank discount rate country ranks ]
Commercial bank prime lending rate:
9.8% (31 December 2016 est.) 6.96% (31 December 2015 est.)
country comparison to the world: 84
[see also: Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$5.521 billion (31 December 2016 est.) $4.963 billion (31 December 2015 est.)
country comparison to the world: 96
[see also: Stock of narrow money country ranks ]
Stock of broad money:
$31.84 billion (31 December 2016 est.) $28.16 billion (31 December 2015 est.)
country comparison to the world: 78
[see also: Stock of broad money country ranks ]
Stock of domestic credit:
$44.73 billion (31 December 2016 est.) $39.22 billion (31 December 2015 est.)
country comparison to the world: 68
[see also: Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$20.8 billion (31 December 2015 est.) $23.67 billion (31 December 2014 est.) $18.81 billion (31 December 2013 est.)
country comparison to the world: 65
[see also: Market value of publicly traded shares country ranks ]
Current account balance:
-$1.231 billion (2016 est.) -$2.009 billion (2015 est.)
country comparison to the world: 129
[see also: Current account balance country ranks ]
Exports:
$10.12 billion (2016 est.) $10.5 billion (2015 est.)
country comparison to the world: 88
[see also: Exports country ranks ]
Exports – commodities:
textiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish
Exports – partners:
US 26%, UK 9%, India 7.2%, Germany 4.3% (2015)
Imports:
$18.64 billion (2016 est.) $18.93 billion (2015 est.)
country comparison to the world: 73
[see also: Imports country ranks ]
Imports – commodities:
petroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs
Imports – partners:
India 24.6%, China 20.6%, UAE 7.2%, Singapore 5.9%, Japan 5.7% (2015)
Reserves of foreign exchange and gold:
$7.06 billion (31 December 2016 est.) $7.303 billion (31 December 2015 est.)
country comparison to the world: 85
[see also: Reserves of foreign exchange and gold country ranks ]
Debt – external:
$47.65 billion (31 December 2016 est.) $45.47 billion (31 December 2015 est.)
country comparison to the world: 66
[see also: Debt – external country ranks ]
Exchange rates:
Sri Lankan rupees (LKR) per US dollar – 146.6 (2016 est.) 135.86 (2015 est.) 135.86 (2014 est.) 130.57 (2013 est.) 127.6 (2012 est.)
Share this on

Leave a comment