Economy Of Sri lanka

Economy - overview:

Sri Lanka is engaging in large-scale reconstruction and development projects following the end of the 26-year conflict with the LTTE, including increasing electricity access and rebuilding its road and rail network. Additionally, Sri Lanka seeks to reduce poverty by using a combination of state directed policies and private investment promotion to spur growth in disadvantaged areas, develop small and medium enterprises, and promote increased agriculture, High levels of government funding may be difficult, as the government already is faced with high debt interest payments, a bloated civil service, and historically high budget deficits. The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis, which was alleviated by a $2.6 billion IMF standby agreement in July 2009. The end of the civil war and the IMF loan, however, have largely restored investors' confidence, reflected in part by the Sri Lankan stock market's recognition as one of the best performing markets in the world. Sri Lankan growth rates averaged nearly 5% in during the war, but increased government spending on development and fighting the LTTE in the final years spurred GDP growth to around 6-7% per year in 2006-08. After experiencing 3.5% growth in 2009, Sri Lanka's economy is poised to achieve high growth rates in the postwar period.
GDP (purchasing power parity):
$104.7 billion (2010 est.)
country comparison to the world: 69

$97.91 billion (2009 est.)

$94.6 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ] GDP (official exchange rate):
$48.24 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
6.9% (2010 est.)
country comparison to the world: 25

3.5% (2009 est.)

6% (2008 est.)
[see also: GDP - real growth rate country ranks ] GDP - per capita:
$4,900 (2010 est.)
country comparison to the world: 149

$4,600 (2009 est.)

$4,500 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ] GDP - composition by sector:
agriculture: 12.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 29.8%
[see also: GDP - composition by sector - industry country ranks ]
services: 57.6% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
Labor force:
8.1 million (2009 est.)
country comparison to the world: 55
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 32.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 26.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 41% (December 2008 est.)
[see also: Labor force - by occupation - services country ranks ]
Unemployment rate:
5.4% (2010 est.)
country comparison to the world: 51

5.9% (2009 est.)
[see also: Unemployment rate country ranks ] Population below poverty line:
23% (2008 est.)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: 1.1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 39.7% (2004)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
Distribution of family income - Gini index:
49 (2007)
country comparison to the world: 27

46 (1995)
[see also: Distribution of family income - Gini index country ranks ] Investment (gross fixed):
23.6% of GDP (2009 est.)
country comparison to the world: 51
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $7.415 billion
[see also: Budget - revenues country ranks ]
expenditures: $11.18 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
Public debt:
86.7% of GDP (2010 est.)
country comparison to the world: 13

85.8% of GDP (2009 est.)
[see also: Public debt country ranks ] Inflation rate (consumer prices):
5.6% (2010 est.)
country comparison to the world: 154

3% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ] Central bank discount rate:
7.25% (December 2010)
country comparison to the world: 55

7.5% (31 December 2009)
[see also: Central bank discount rate country ranks ] Commercial bank prime lending rate:
10.37% (December 2010)
country comparison to the world: 41

15.89% (31 December 2008)
[see also: Commercial bank prime lending rate country ranks ] Stock of narrow money:
$4.4 billion (31 December 2010 est)

$3.628 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ] Stock of broad money:
$19.72 billion (31 December 2010 est.)

$16.41 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ] Stock of domestic credit:
$18.34 billion (31 December 2010 est.)
country comparison to the world: 82

$16.64 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ] Market value of publicly traded shares:
$11.5 billion (December 2010)
country comparison to the world: 71

$8.133 billion (31 December 2009)

$4.326 billion (31 December 2008)
[see also: Market value of publicly traded shares 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:
6.9% (2009 est.)
country comparison to the world: 44
[see also: Industrial production growth rate country ranks ]
Electricity - production:
9.882 billion kWh (2008 est.)
country comparison to the world: 92
[see also: Electricity - production country ranks ]
Electricity - consumption:
8.417 billion kWh (2008 est.)
country comparison to the world: 93
[see also: Electricity - consumption country ranks ]
Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
Oil - production:
0 bbl/day (2008 est.)
country comparison to the world: 129
[see also: Oil - production country ranks ]
Oil - consumption:
90,000 bbl/day (2009 est.)
country comparison to the world: 80
[see also: Oil - consumption country ranks ]
Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 173
[see also: Oil - exports country ranks ]
Oil - imports:
90,000 bbl/day (2007 est.)
country comparison to the world: 67
[see also: Oil - imports country ranks ]
Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 118
[see also: Oil - proved reserves country ranks ]
Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 126
[see also: Natural gas - production country ranks ]
Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 176
[see also: Natural gas - consumption country ranks ]
Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 120
[see also: Natural gas - exports country ranks ]
Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 131
[see also: Natural gas - proved reserves country ranks ]
Current account balance:
-$1.784 billion (2010 est.)
country comparison to the world: 154

-$291 million (2009 est.)
[see also: Current account balance country ranks ] Exports:
$7.908 billion (2010 est.)
country comparison to the world: 92

$7.085 billion (2009 est.)
[see also: Exports country ranks ] Exports - commodities:
textiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish
Exports - partners:
US 20.59%, UK 12.87%, Italy 5.51%, Germany 5.29%, India 4.54%, Belgium 4.43% (2009)
Imports:
$11.6 billion (2010 est.)
country comparison to the world: 86

$9.186 billion (2009 est.)
[see also: Imports country ranks ] Imports - commodities:
petroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs
Imports - partners:
India 20.73%, China 13.45%, Singapore 7.26%, Iran 6.7%, South Korea 5.23% (2009)
Reserves of foreign exchange and gold:
$5.63 billion (31 December 2010 est.)
country comparison to the world: 66

$5.358 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ] Debt - external:
$17.97 billion (31 December 2010 est.)
country comparison to the world: 76

$17.44 billion (31 December 2009 est.)
[see also: Debt - external country ranks ] Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]
Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]
Exchange rates:
Sri Lankan rupees (LKR) per US dollar - 113.36 (2010), 114.95 (2009), 108.33 (2008), 110.78 (2007), 103.99 (2006)