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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.

Includes historical data for Sri Lanka’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Ongoing Debt Crisis Hampers Economic Growth

In 2022, an economic crisis struck Sri Lanka. Its currency collapsed and inflation surged, igniting political unrest and a humanitarian emergency marked by severe shortages of essential goods. Amid the crisis, the vigorous growth in tourism experienced up until that point slowed down significantly, and plans to reposition Sri Lanka as a knowledge-based, export-oriented hub stalled.

Still, Sri Lanka enjoys a strategic location at the crossroads of trade routes linking Asia and the Middle East, and boasts a diverse economic base spanning agriculture, manufacturing, construction, as well as finance, telecommunications and IT services. However, while potentially very attractive to foreign investors, the business climate in Sri Lanka also suffers from political influence, burdensome regulatory frameworks, and rigid labor regulations. The government’s high debt payments resulting from heavy reliance on imports and an inflated civil service, vulnerability to climate disasters, and ethnic tensions further compound Sri Lanka’s economic woes.

Macroeconomy & Sovereign Data

Type of Government Presidential republic
Capital Colombo (commercial capital); Sri Jayewardenepura Kotte (legislative capital)
Sovereign Ratings S&P: CCC+
Moody’s: Ca
Fitch: CCC-
Total Population 22.4 million
Median Age 33
Adult Per Capita Income (PPP) 23,780.31
Total GDP (2023) 74.9 billion

Sri Lanka GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 19.3 billion (2022)
Leading Exports Refined Petroleum
Broadcasting Equipment
Total Imports USD 14.4 billion (2022)
Leading Imports Clothing And Apparel
Used Tires
Rubber Products
Precious Stones
Source: World Integrated Trade Solution

Sri Lanka Leading Companies

Bank of Ceylon Financials
People's Bank Financials
Commercial Bank of Ceylon Financials
John Keells Holdings Conglomerates, Food & Staples Retailing, Hotels, Restaurants & Leisure
Sri Lanka Telecom Telecommunication Services
Ceylon Petroleum Corporation Energy, Oil & Gas Refining & Marketing
Hayleys Conglomerates, Industrials, Construction & Engineering, Transportation

Major Trade Partners — Import

China 23.7%
India 22.1%
United Arab Emirates 6.6%
Malaysia 3.8%
Singapore 3.6%

Major Trade Partners — Export

United States 24.8%
United Kingdom 7.5%
India 7.0%
Germany 6.1%
Italy 4.7%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


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