Sri Lanka - Economic Indicators

Economic Overview

Sri Lanka is attempting to sustain economic growth while maintaining macroeconomic stability under its IMF program that it began in 2016. The government's high debt payments and bloated civil service cadre, which have contributed to historically high budget deficits and low tax revenues, remain a concern. Government debt is about 75% of GDP and remains among the highest of the emerging markets. Sri Lanka will need to balance its elevated debt repayment schedule with its requirement to maintain adequate foreign exchange reserve levels in the coming years. In May 2016, Sri Lanka...

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GDP Reference Last Previous Units Frequency
Nominal Fixed Investment (gross fixed capital formation) 2017 3,502,123,875,500 3,175,778,821,700 NCU Annual
Private Consumption 2016 8,003,788,578,253 7,677,131,347,686 LKR Annual
Investment 2016 3,263,242,605,213 2,906,996,224,331 LKR Annual
Nominal Gross Domestic Product 2016 11,838,975,000,000 10,951,695,000,000 LKR Annual
Government Consumption 2015 985,815 869,138 Mil. LKR Annual
Real Gross Domestic Product 2014 Q3 137.75 127.1 Index 2005=100 Quarterly
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Jun 2018 151.82 149.18 2010=100, NSA Monthly
Wholesale Price Index Feb 2011 119.12 117.14 Index 2005=100 Monthly
Producer Price Index (PPI) Feb 2011 119.12 117.14 Index 2005=100 Monthly
Labor Reference Last Previous Units Frequency
Agriculture Employment 2017 2,327,270 2,375,003 # Annual
Labor Force 2016 8,630,169 8,519,529 # Annual
Total Employment 2016 Q4 8,006 7,999 Ths. Quarterly
Labor Force Employment 2016 Q4 8,006 7,999 Ths. Quarterly
Unemployment 2016 Q4 348.14 376.18 Ths. Quarterly
Unemployment Rate 2016 Q4 4.2 4.49 % Quarterly
Trade Reference Last Previous Units Frequency
Balance of Goods 2017 Q4 -2,780,107,285 -2,087,834,274 USD, NSA Quarterly
Imports of Goods 2017 Q4 5,716,122,486 5,114,684,844 USD, NSA Quarterly
Exports of Goods 2017 Q4 2,936,015,200 3,026,850,569 USD, NSA Quarterly
Current Account Balance 2017 Q4 -1,090,132,550 -182,104,518 USD, NSA Quarterly
Imports of Goods and Services 2016 3,442,490,265,000 3,125,930,562,000 LKR Annual
Exports of Goods and Services 2016 2,538,694,875,000 2,301,065,192,000 LKR Annual
Government Reference Last Previous Units Frequency
Gross External Debt 2018 Q1 31,308,020,884 30,869,932,051 USD, NSA Quarterly
Markets Reference Last Previous Units Frequency
Stock Market Index Nov 2018 170.05 165.33 Index Jan2010=100, NSA Monthly
Money Market Rate Oct 2017 8.15 8.11 % p.a., NSA Monthly
Treasury Bills (over 31 days) Oct 2017 9.48 9.1 % p.a., NSA Monthly
Average Long-term Government Bond May 2017 11.42 11.55 % Monthly
Lending Rate Oct 2012 15 15 % - End of period Monthly
Business Reference Last Previous Units Frequency
Industrial Production Sep 2018 1,700,000,000 1,740,000,000 2010 USD, NSA Monthly
Demographics Reference Last Previous Units Frequency
Net Migration 2017 -449,999 # Annual
Population 2017 20,876,917 20,798,492 # Annual
Birth Rate 2016 15.29 15.6 # per Ths. pop. Annual
Death Rate 2016 6.9 6.81 # per Ths. pop. Annual

Factbook

Background

Background:
The first Sinhalese arrived in Sri Lanka late in the 6th century B.C., probably from northern India. Buddhism was introduced circa 250 B.C., and the first kingdoms developed at the cities of Anuradhapura (from circa 200 B.C. to circa A.D. 1000) and Polonnaruwa (from about 1070 to 1200). In the 14th century, a south Indian dynasty established a Tamil kingdom in northern Sri Lanka. The Portuguese controlled the coastal areas of the island in the 16th century and the Dutch in the 17th century. The island was ceded to the British in 1796, became a crown colony in 1802, and was formally united under British rule by 1815. As Ceylon, it became independent in 1948; its name was changed to Sri Lanka in 1972. Prevailing tensions between the Sinhalese majority and Tamil separatists erupted into war in 1983. After two decades of fighting, the government and Liberation Tigers of Tamil Eelam (LTTE) formalized a cease-fire in February 2002 with Norway brokering peace negotiations. Both the LTTE and the government unofficially abrogated the ceasefire and violence between the LTTE and government forces intensified in 2006, but the government regained control of the Eastern Province in 2007. The government officially withdrew from the cease-fire agreement in January 2008 and by May 2009, the remnants of the LTTE had been defeated.
Since the end of the conflict, the government has enacted an ambitious program of economic development projects, many of which are financed by loans from the Government of China. In addition to efforts at reconstructing its economy, the government has resettled more than 95% of those civilians displaced during the final phase of the conflict and released the vast majority of former LTTE combatants captured by Government Security Forces. Slow progress continues on more contentious and politically difficult issues such as reaching a political settlement with Tamil elected representatives and holding accountable those alleged to have been involved in human rights violations and other abuses during the conflict.

Geography

Location:
Southern Asia, island in the Indian Ocean, south of India
Geographic coordinates:
7 00 N, 81 00 E
Map references:
Asia
Area:
total: 65,610 sq km
land: 64,630 sq km
water: 980 sq km
country comparison to the world: 123
Area - comparative:
slightly larger than West Virginia
Area comparison map:
Land boundaries:
0 km
Coastline:
1,340 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm or to the edge of the continental margin
Climate:
tropical monsoon; northeast monsoon (December to March); southwest monsoon (June to October)
Terrain:
mostly low, flat to rolling plain; mountains in south-central interior
Elevation:
mean elevation: 228 m
elevation extremes: lowest point: Indian Ocean 0 m
highest point: Pidurutalagala 2,524 m
Natural resources:
limestone, graphite, mineral sands, gems, phosphates, clay, hydropower, arable land
Land use:
agricultural land: 43.5%
arable land 20.7%; permanent crops 15.8%; permanent pasture 7%
forest: 29.4%
other: 27.1% (2011 est.)
Irrigated land:
5,700 sq km (2012)
Population - distribution:
the population is primarily concentrated within a broad wet zone in the southwest, urban centers along the eastern coast, and on the Jaffna Peninsula in the north
Natural hazards:
occasional cyclones and tornadoes
Environment - current issues:
deforestation; soil erosion; wildlife populations threatened by poaching and urbanization; coastal degradation from mining activities and increased pollution; freshwater resources being polluted by industrial wastes and sewage runoff; waste disposal; air pollution in Colombo
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified: Marine Life Conservation
Geography - note:
strategic location near major Indian Ocean sea lanes; Adam's Bridge is a chain of limestone shoals between the southeastern coast of India and the northwestern coast of Sri Lanka; geological evidence suggests that this 50-km long bridge once connected India and Sri Lanka; ancient records seem to indicate that a foot passage was possible between the two land masses until the 15th century when the land bridge broke up in a cyclone

People & Society

Population:
22,409,381 (July 2017 est.)
country comparison to the world: 57
Nationality:
noun: Sri Lankan(s)
adjective: Sri Lankan
Ethnic groups:
Sinhalese 74.9%, Sri Lankan Tamil 11.2%, Sri Lankan Moors 9.2%, Indian Tamil 4.2%, other 0.5% (2012 est.)
Languages:
Sinhala (official and national language) 74%, Tamil (official and national language) 18%, other 8%
note: English, spoken competently by about 10% of the population, is commonly used in government and is referred to as the link language in the constitution
Religions:
Buddhist (official) 70.2%, Hindu 12.6%, Muslim 9.7%, Roman Catholic 6.1%, other Christian 1.3%, other 0.05% (2012 est.)
Age structure:
0-14 years: 24.06% (male 2,750,004/female 2,642,606)
15-24 years: 14.63% (male 1,666,859/female 1,611,379)
25-54 years: 41.58% (male 4,571,200/female 4,747,119)
55-64 years: 10.06% (male 1,043,199/female 1,210,930)
65 years and over: 9.67% (male 917,014/female 1,249,071) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 51.2
youth dependency ratio: 37.2
elderly dependency ratio: 14.1
potential support ratio: 7.1 (2015 est.)
Median age:
total: 32.8 years
male: 31.5 years
female: 34 years (2017 est.)
country comparison to the world: 96
Population growth rate:
0.76% (2017 est.)
country comparison to the world: 137
Birth rate:
15.2 births/1,000 population (2017 est.)
country comparison to the world: 126
Death rate:
6.2 deaths/1,000 population (2017 est.)
country comparison to the world: 153
Net migration rate:
-1.3 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 145
Population distribution:
the population is primarily concentrated within a broad wet zone in the southwest, urban centers along the eastern coast, and on the Jaffna Peninsula in the north
Urbanization:
urban population: 18.5% of total population (2017)
rate of urbanization: 1.11% annual rate of change (2015-20 est.)
Major urban areas - population:
Sri Jayewardenepura Kotte (legislative capital) 128,000 (2014); COLOMBO (capital) 707,000 (2015)
Sex ratio:
at birth: 1.04 male(s)/female
0-14 years: 1.04 male(s)/female
15-24 years: 1.03 male(s)/female
25-54 years: 0.96 male(s)/female
55-64 years: 0.86 male(s)/female
65 years and over: 0.74 male(s)/female
total population: 0.96 male(s)/female (2017 est.)
Mother's mean age at first birth:
25.4 years
note: median age at first birth among women 30-34 (2006/07 est.)
Maternal mortality ratio:
30 deaths/100,000 live births (2015 est.)
country comparison to the world: 114
Infant mortality rate:
total: 8.4 deaths/1,000 live births
male: 9.3 deaths/1,000 live births
female: 7.4 deaths/1,000 live births (2017 est.)
country comparison to the world: 150
Life expectancy at birth:
total population: 76.9 years
male: 73.5 years
female: 80.6 years (2017 est.)
country comparison to the world: 82
Total fertility rate:
2.07 children born/woman (2017 est.)
country comparison to the world: 111
Health expenditures:
3.5% of GDP (2014)
country comparison to the world: 173
Physicians density:
0.88 physicians/1,000 population (2015)
Hospital bed density:
3.6 beds/1,000 population (2012)
Drinking water source:
improved:
urban: 98.5% of population
rural: 95% of population
total: 95.6% of population
unimproved:
urban: 1.5% of population
rural: 5% of population
total: 4.4% of population (2015 est.)
Sanitation facility access:
improved:
urban: 88.1% of population
rural: 96.7% of population
total: 95.1% of population
unimproved:
urban: 11.9% of population
rural: 3.3% of population
total: 4.9% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
<.1% (2016 est.)
HIV/AIDS - people living with HIV/AIDS:
4,000 (2016 est.)
country comparison to the world: 108
HIV/AIDS - deaths:
<200 (2016 est.)
Major infectious diseases:
degree of risk: high
food or waterborne diseases: bacterial diarrhea and hepatitis A
vectorborne disease: dengue fever
water contact disease: leptospirosis
animal contact disease: rabies (2016)
Obesity - adult prevalence rate:
5.2% (2016)
country comparison to the world: 182
Children under the age of 5 years underweight:
26.3% (2012)
country comparison to the world: 23
Education expenditures:
3.5% of GDP (2016)
country comparison to the world: 168
Literacy:
definition: age 15 and over can read and write
total population: 92.6%
male: 93.6%
female: 91.7% (2015 est.)
School life expectancy (primary to tertiary education):
total: 14 years
male: 14 years
female: 14 years (2013)
Unemployment, youth ages 15-24:
total: 20.7%
male: 16.5%
female: 27.3% (2015 est.)
country comparison to the world: 64

Government

Country name:
conventional long form: Democratic Socialist Republic of Sri Lanka
conventional short form: Sri Lanka
local long form: Shri Lanka Prajatantrika Samajavadi Janarajaya/Ilankai Jananayaka Choshalichak Kutiyarachu
local short form: Shri Lanka/Ilankai
former: Serendib, Ceylon
etymology: the name means "resplendent island" in Sanskrit
Government type:
presidential republic
Capital:
name: Colombo (commercial capital); Sri Jayewardenepura Kotte (administrative capital)
geographic coordinates: 6 55 N, 79 50 E
time difference: UTC+5.5 (10.5 hours ahead of Washington, DC, during Standard Time)
Administrative divisions:
9 provinces; Central, Eastern, North Central, Northern, North Western, Sabaragamuwa, Southern, Uva, Western
Independence:
4 February 1948 (from the UK)
National holiday:
Independence Day (National Day), 4 February (1948)
Constitution:
history: several previous; latest adopted 16 August 1978, certified 31 August 1978
amendments: proposed by Parliament; passage requires at least two-thirds majority vote of its total membership, certification by the president of the republic or the Parliament speaker, and approval in a referendum by an absolute majority of valid votes; amended many times, last in 2015; note - in late October 2017, the president announced the establishment of 3 conferences designed to inform the public on plans to adopt a new constitution (2017)
Legal system:
mixed legal system of Roman-Dutch civil law, English common law, and Jaffna Tamil customary law
International law organization participation:
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Sri Lanka
dual citizenship recognized: no, except in cases where the government rules it is to the benefit of Sri Lanka
residency requirement for naturalization: 7 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Maithripala SIRISENA (since 9 January 2015); note - the president is both chief of state and head of government; Ranil WICKREMESINGHE (since 9 January 2015) holds the title of prime minister
head of government: President Maithripala SIRISENA (since 9 January 2015)
cabinet: Cabinet appointed by the president in consultation with the prime minister
elections/appointments: president directly elected by preferential majority popular vote for a 5-year term (eligible for a second term); election last held on 8 January 2015 (next to be held by January 2020); note - the January 2015 election was held nearly 2 years ahead of schedule
election results: Maithripala SIRISENA elected president; percent of vote - Maithripala SIRISENA (SLFP) 51.3%, Mahinda RAJAPAKSA (SLFP) 47.6%, other 1.1%
Legislative branch:
description: unicameral Parliament (225 seats; 196 members directly elected in multi-seat constituencies by proportional representation vote using a preferential method in which voters select 3 candidates in order of preference; remaining 29 seats allocated to other political parties and groups in proportion to share of national vote; members serve 5-year terms)
elections: last held on 17 August 2015 following President SIRISENA's dissolution of Parliament in late June 2015 in an effort to consolidate power and pass reforms (next to be held in 2020)
election results: percent of vote by coalition/party - EYJP 45.7%, UPFA 42.4%, JVP 4.9%, TNA 4.6%, SLMC 0.4%, EPDP 0.3% other 1.7%; seats by coalition/party EYJP 106, UPFA 95, TNA 16, JVP 6, SLMC 1, EPDP 1
Judicial branch:
highest court(s): Supreme Court of the Republic (consists of the chief justice and 9 justices); note - the court has exclusive jurisdiction to review legislation
judge selection and term of office: chief justice nominated by the Constitutional Council (CC), a 9-member high-level advisory body, and appointed by the president; other justices nominated by the CC and appointed by the president on the advice of the chief justice; all justices can serve until age 65
subordinate courts: Court of Appeals; High Courts; Magistrates' Courts; municipal and primary courts
Political parties and leaders:
Eelam People's Democratic Party or EPDP [Douglas DEVANANDA]
Janatha Vimukthi Peramuna or JVP [Anura Kumara DISSANAYAKE]
Jathika Hela Urumaya or JHU [Karunarathna PARANAWITHANA and Ven Hadigalle WIMALASARA THERO]
New Democratic Front or NDF [Shalila MOONESINGHE]
Sri Lanka Freedom Party or SLFP [Maithripala SIRISENA]
Sri Lanka Muslim Congress or SLMC [Rauff HAKEEM]
Tamil National Alliance or TNA [Rajavarothiam SAMPANTHAN] (alliance includes Eelam People's Revolutionary Liberation Front [Suresh PREMACHANDRAN], Illankai Tamil Arasu Kachchi Mavai SENATHIRAJAH], People's Liberation Organisation of Tamil Eelam [D. SIDDARTHAN], Tamil Eelam Liberation Organization Selvam ADAIKALANATHAN])
United National Front for Good Governance or EYJP [Ranil WICKREMESINGHE] (coalition includes JHU, UNP)
United National Party or UNP [Ranil WICKREMESINGHE]
United People's Freedom Alliance or UPFA [Maithripala SIRISENA] (coalition includes SLFP)
Political pressure groups and leaders:
Buddhist clergy
Sinhalese Buddhist lay groups
diaspora groups
other: labor unions; hardline nationalist Sinhalese groups, such as the National Movement Against Terrorism
International organization participation:
ABEDA, ADB, ARF, BIMSTEC, C, CD, CICA (observer), CP, FAO, G-11, G-15, G-24, G-77, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINURSO, MINUSTAH, MONUSCO, NAM, OAS (observer), OPCW, PCA, SAARC, SACEP, SCO (dialogue member), UN, UNCTAD, UNESCO, UNIDO, UNIFIL, UNISFA, UNMISS, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Prasad KARIYAWASAM (since 14 July 2014)
chancery: 3025 Whitehaven Street NW, Washington, DC 20008
telephone: [1] (202) 483-4025 through 4028
FAX: [1] (202) 232-7181
consulate(s) general: Los Angeles, New York
Diplomatic representation from the US:
chief of mission: Ambassador Atul KESHAP (since 21 August 2015); note - also accredited to Maldives
embassy: 210 Galle Road, Colombo 3
mailing address: P. O. Box 106, Colombo
telephone: [94] (11) 249-8500
FAX: [94] (11) 243-7345
Flag description:
yellow with two panels; the smaller hoist-side panel has two equal vertical bands of green (hoist side) and orange; the other larger panel depicts a yellow lion holding a sword on a maroon rectangular field that also displays a yellow bo leaf in each corner; the yellow field appears as a border around the entire flag and extends between the two panels; the lion represents Sinhalese ethnicity, the strength of the nation, and bravery; the sword demonstrates the sovereignty of the nation; the four bo leaves - symbolizing Buddhism and its influence on the country - stand for the four virtues of kindness, friendliness, happiness, and equanimity; orange signifies Sri Lankan Tamils, green Sri Lankan Moors, and maroon the Sinhalese majority; yellow denotes other ethnic groups; also referred to as the Lion Flag
National symbol(s):
lion, water lily; national colors: maroon, yellow
National anthem:
name: "Sri Lanka Matha" (Mother Sri Lanka)
lyrics/music: Ananda SAMARKONE
note: adopted 1951

Economy

Economy - overview:
Sri Lanka is attempting to sustain economic growth while maintaining macroeconomic stability under its IMF program that it began in 2016. The government's high debt payments and bloated civil service cadre, which have contributed to historically high budget deficits and low tax revenues, remain a concern. Government debt is about 75% of GDP and remains among the highest of the emerging markets. Sri Lanka will need to balance its elevated debt repayment schedule with its requirement to maintain adequate foreign exchange reserve levels in the coming years.
In May 2016, Sri Lanka regained its preferential trade preferences under the European Union’s Generalized System of Preferences Plus (GSP+), enabling many of its firms to export products, including it top export garments, tax free to the EU. Also in 2016, the government reformed elements of the country’s tax regime to increase some tax rates and broaden the tax net in response to recommendations made under its IMF program.
Tourism has experienced strong growth during recent years following the resolution 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.
GDP (purchasing power parity):
$278.2 billion (2017 est.)
$265.6 billion (2016 est.)
$254.5 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 62
GDP (official exchange rate):
$83.57 billion (2017 est.)
GDP - real growth rate:
4.7% (2017 est.)
4.4% (2016 est.)
4.8% (2015 est.)
country comparison to the world: 46
GDP - per capita (PPP):
$13,000 (2017 est.)
$12,500 (2016 est.)
$12,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 120
Gross national saving:
29.3% of GDP (2017 est.)
29% of GDP (2016 est.)
26.1% of GDP (2015 est.)
country comparison to the world: 28
GDP - composition, by end use:
household consumption: 67.9%
government consumption: 8.6%
investment in fixed capital: 28.9%
investment in inventories: 3.3%
exports of goods and services: 21.3%
imports of goods and services: -30% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 7.8%
industry: 30.5%
services: 61.7% (2017 est.)
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:
5.4% (2017 est.)
country comparison to the world: 39
Labor force:
8.937 million (2017 est.)
country comparison to the world: 56
Labor force - by occupation:
agriculture: 28.4%
industry: 25.7%
services: 45.9% (31 December 2016 )
Unemployment rate:
4% (2017 est.)
4% (2016 est.)
country comparison to the world: 49
Population below poverty line:
6.7% (2012 est.)
Household income or consumption by percentage share:
lowest 10%: 1.6%
highest 10%: 39.5% (2012 est.)
Distribution of family income - Gini index:
49 (2012 est.)
46 (1995 est.)
country comparison to the world: 20
Budget:
revenues: $12.64 billion
expenditures: $16.66 billion (2017 est.)
Taxes and other revenues:
15.1% of GDP (2017 est.)
country comparison to the world: 187
Budget surplus (+) or deficit (-):
-4.8% of GDP (2017 est.)
country comparison to the world: 157
Public debt:
79.6% of GDP (2017 est.)
79.3% of GDP (2016 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 intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement; sub-national entities are usually not permitted to sell debt instruments
country comparison to the world: 39
Fiscal year:
calendar year
Inflation rate (consumer prices):
6% (2017 est.)
4% (2016 est.)
country comparison to the world: 185
Central bank discount rate:
7% (30 November 2017 est.)
6% (31 December 2015 est.)
country comparison to the world: 50
Commercial bank prime lending rate:
11.8% (31 December 2017 est.)
10.49% (31 December 2016 est.)
country comparison to the world: 68
Stock of narrow money:
$5.213 billion (31 December 2017 est.)
$5.184 billion (31 December 2016 est.)
country comparison to the world: 104
Stock of broad money:
$36.83 billion (31 December 2017 est.)
$32.2 billion (31 December 2016 est.)
country comparison to the world: 76
Stock of domestic credit:
$51.72 billion (31 December 2017 est.)
$46.21 billion (31 December 2016 est.)
country comparison to the world: 66
Market value of publicly traded shares:
$20.8 billion (30 September 2017 est.)
$23.67 billion (31 December 2014 est.)
$18.81 billion (31 December 2013 est.)
country comparison to the world: 65
Current account balance:
$-2.094 billion (2017 est.)
$-1.942 billion (2016 est.)
country comparison to the world: 158
Exports:
$10.93 billion (2017 est.)
$10.31 billion (2016 est.)
country comparison to the world: 86
Exports - commodities:
textiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish
Exports - partners:
US 27.3%, UK 10.2%, India 5%, Germany 5%, Italy 4% (2016)
Imports:
$21.14 billion (2017 est.)
$19.4 billion (2016 est.)
country comparison to the world: 73
Imports - commodities:
petroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs
Imports - partners:
China 22%, India 20%, UAE 6.1%, Singapore 5.9%, Japan 5.4% (2016)
Reserves of foreign exchange and gold:
$6.632 billion (31 December 2017 est.)
$6.019 billion (31 December 2016 est.)
country comparison to the world: 86
Debt - external:
$47.8 billion (31 December 2017 est.)
$45.26 billion (31 December 2016 est.)
country comparison to the world: 65
Stock of direct foreign investment - at home:
$NA
Stock of direct foreign investment - abroad:
$NA
Exchange rates:
Sri Lankan rupees (LKR) per US dollar -
154.1 (2017 est.)
145.58 (2016 est.)
145.58 (2015 est.)
135.86 (2014 est.)
130.57 (2013 est.)

Energy

Electricity access:
population without electricity: 1,334,100
electrification - total population: 94%
electrification - urban areas: 99%
electrification - rural areas: 93% (2013)
Electricity - production:
12.64 billion kWh (2016 est.)
country comparison to the world: 92
Electricity - consumption:
11.72 billion kWh (2015 est.)
country comparison to the world: 87
Electricity - exports:
0 kWh (2016 est.)
country comparison to the world: 118
Electricity - imports:
0 kWh (2016 est.)
country comparison to the world: 132
Electricity - installed generating capacity:
4.056 million kW (2015 est.)
country comparison to the world: 88
Electricity - from fossil fuels:
55.3% of total installed capacity (2015 est.)
country comparison to the world: 141
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 63
Electricity - from hydroelectric plants:
41.1% of total installed capacity (2015 est.)
country comparison to the world: 48
Electricity - from other renewable sources:
3.6% of total installed capacity (2015 est.)
country comparison to the world: 107
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 118
Crude oil - exports:
0 bbl/day (2014 est.)
country comparison to the world: 104
Crude oil - imports:
36,480 bbl/day (2014 est.)
country comparison to the world: 58
Crude oil - proved reserves:
0 bbl (1 January 2017 est.)
country comparison to the world: 118
Refined petroleum products - production:
35,650 bbl/day (2014 est.)
country comparison to the world: 85
Refined petroleum products - consumption:
103,000 bbl/day (2015 est.)
country comparison to the world: 80
Refined petroleum products - exports:
472.9 bbl/day (2014 est.)
country comparison to the world: 112
Refined petroleum products - imports:
60,840 bbl/day (2014 est.)
country comparison to the world: 74
Natural gas - production:
0 cu m (2013 est.)
country comparison to the world: 119
Natural gas - consumption:
0 cu m (2013 est.)
country comparison to the world: 167
Natural gas - exports:
0 cu m (2013 est.)
country comparison to the world: 81
Natural gas - imports:
0 cu m (2013 est.)
country comparison to the world: 104
Natural gas - proved reserves:
0 cu m (1 January 2014 est.)
country comparison to the world: 125
Carbon dioxide emissions from consumption of energy:
16 million Mt (2015 est.)
country comparison to the world: 89

Communications

Telephones - fixed lines:
total subscriptions: 2,479,802
subscriptions per 100 inhabitants: 11 (July 2016 est.)
country comparison to the world: 53
Telephones - mobile cellular:
total: 25,797,199
subscriptions per 100 inhabitants: 115 (July 2016 est.)
country comparison to the world: 49
Telephone system:
general assessment: telephone services have improved significantly and are available in most parts of the country
domestic: national trunk network consists mostly of digital microwave radio relay; fiber-optic links now in use in Colombo area and fixed wireless local loops have been installed; competition is strong in mobile cellular systems and mobile cellular subscribership is increasing
international: country code - 94; the SEA-ME-WE-3 and SEA-ME-WE-4 submarine cables provide connectivity to Asia, Australia, Middle East, Europe, US; satellite earth stations - 2 Intelsat (Indian Ocean) (2016)
Broadcast media:
government operates 5 TV channels and 19 radio channels; multi-channel satellite and cable TV subscription services available; 25 private TV stations and about 43 radio stations; 6 non-profit TV stations and 4 radio stations (2017)
Internet country code:
.lk
Internet users:
total: 7,126,540
percent of population: 32.1% (July 2016 est.)
country comparison to the world: 61

Transportation

National air transport system:
number of registered air carriers: 3
inventory of registered aircraft operated by air carriers: 25
annual passenger traffic on registered air carriers: 4,911,730
annual freight traffic on registered air carriers: 381,381,300 mt-km (2015)
Civil aircraft registration country code prefix:
4R (2016)
Airports:
19 (2013)
country comparison to the world: 137
Airports - with paved runways:
total: 15
over 3,047 m: 2
1,524 to 2,437 m: 6
914 to 1,523 m: 7 (2013)
Airports - with unpaved runways:
total: 4
914 to 1,523 m: 1
under 914 m: 3 (2013)
Heliports:
1 (2013)
Railways:
total: 1,447 km
broad gauge: 1,447 km 1.676-m gauge (2014)
country comparison to the world: 82
Roadways:
total: 114,093 km
paved: 16,977 km
unpaved: 97,116 km (2010)
country comparison to the world: 42
Waterways:
160 km (primarily on rivers in southwest) (2012)
country comparison to the world: 100
Merchant marine:
total: 82
by type: bulk carrier 8, container ship 1, general cargo 9, oil tanker 10, other 54 (2017)
country comparison to the world: 94
Ports and terminals:
major seaport(s): Colombo
container port(s) (TEUs): Colombo (3,651,963)

Military & Security

Military expenditures:
2.44% of GDP (2016)
2.55% of GDP (2015)
2.41% of GDP (2014)
2.15% of GDP (2013)
2.16% of GDP (2012)
country comparison to the world: 39
Military branches:
Sri Lanka Army, Sri Lanka Navy (includes Marine Corps), Sri Lanka Air Force, Sri Lanka Coast Guard (2016)
Military service age and obligation:
18-22 years of age for voluntary military service; no conscription; 5-year service obligation (Air Force) (2012)

Transnational Issues

Disputes - international:
none
Refugees and internally displaced persons:
IDPs: 42,000 (civil war; more than half displaced prior to 2008; many of the more than 480,000 IDPs registered as returnees have not reached durable solutions) (2017)
Trafficking in persons:
current situation: Sri Lanka is primarily a source and, to a lesser extent, a destination country for men, women, and children subjected to forced labor and sex trafficking; some Sri Lankan adults and children who migrate willingly to the Middle East, Southeast Asia, and Afghanistan to work in the construction, garment, and domestic service sectors are subsequently subjected to forced labor or debt bondage (incurred through high recruitment fees or money advances); some Sri Lankan women are forced into prostitution in Jordan, Maldives, Malaysia, Singapore, and other countries; within Sri Lanka, women and children are subjected to sex trafficking, and children are also forced to beg and work in the agriculture, fireworks, and fish-drying industries; a small number of women from Asia, Central Asia, Europe, and the Middle East have been forced into prostitution in Sri Lanka in recent years
tier rating: Tier 2 Watch List – Sri Lanka does not fully comply with the minimum standards for the elimination of trafficking; however, it is making significant efforts to do so; in 2014, Sri Lanka was granted a waiver from an otherwise required downgrade to Tier 3 because its government has a written plan that, if implemented, would constitute making significant efforts to bring itself into compliance with the minimum standards for the elimination of trafficking; law enforcement continues to demonstrate a lack of understanding of trafficking crimes and inadequate investigations, relying on trafficking cases to be prosecuted under the procurement statute rather than the trafficking statute, which carries more stringent penalties; authorities convicted only one offender under the procurement statute, a decrease from 2013; the government approved guidelines for the identification of victims and their referral to protective services but failed to ensure that victims were not jailed and charged for crimes committed as a direct result of being trafficked; no government employees were investigated or prosecuted, despite allegations of complicity (2015)

Economic Indicators for Sri Lanka including actual values, historical data, and latest data updates for the Sri Lanka economy.