Flag of Sri Lanka

Sri Lanka Economy Profile 2017

Home > Factbook > Countries > Sri Lanka

Economy - overviewSri Lanka is attempting to sustain economic growth while maintaining macroeconomic stability under an IMF program. 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 77% of GDP and remains among the highest of the 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.

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)$236.7 billion (2016 est.)
$226.5 billion (2015 est.)
$216.1 billion (2014 est.)
note: data are in 2016 dollars
GDP (official exchange rate)$82.24 billion (2016 est.)
GDP - real growth rate4.5% (2016 est.)
4.8% (2015 est.)
4.9% (2014 est.)
GDP - per capita (PPP)$11,200 (2016 est.)
$10,700 (2015 est.)
$10,300 (2014 est.)
note: data are in 2016 dollars
Gross national saving26.8% of GDP (2016 est.)
25.9% of GDP (2015 est.)
24.8% of GDP (2014 est.)
GDP - composition, by end usehousehold consumption: 69.4%
government consumption: 8.7%
investment in fixed capital: 26%
investment in inventories: 3.5%
exports of goods and services: 20.5%
imports of goods and services: -28.1% (2016 est.)
GDP - composition by sectoragriculture: 8.5%
industry: 30.9%
services: 60.6% (2016 est.)
Population below poverty line6.7% (2012 est.)
Labor force9.062 million (2016 est.)
Labor force - by occupationagriculture: 28.4%
industry: 25.7%
services: 45.9% (30 Jun 2015)
Unemployment rate4.5% (2016 est.)
4.7% (2015 est.)
Unemployment, youth ages 15-24total: 20.1%
male: 15%
female: 27.8% (2013 est.)
Household income or consumption by percentage sharelowest 10%: 1.6%
highest 10%: 39.5% (2009)
Distribution of family income - Gini index49 (2010)
46 (1995)
Budgetrevenues: $10.98 billion
expenditures: $15.54 billion (2016 est.)
Taxes and other revenues13.4% of GDP (2016 est.)
Budget surplus (+) or deficit (-)-5.5% of GDP (2016 est.)
Public debt77.1% 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 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
Inflation rate (consumer prices)4% (2016 est.)
0.9% (2015 est.)
Central bank discount rate7% (30 September 2016)
6% (31 December 2015)
Commercial bank prime lending rate12.29% (31 December 2016 est.)
7.4% (31 December 2015 est.)
Stock of narrow money$5.521 billion (31 December 2016 est.)
$4.963 billion (31 December 2015 est.)
Stock of broad money$31.84 billion (31 December 2016 est.)
$28.16 billion (31 December 2015 est.)
Stock of domestic credit$44.73 billion (31 December 2016 est.)
$39.22 billion (31 December 2015 est.)
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.)
Agriculture - productsrice, sugarcane, grains, pulses, oilseed, spices, vegetables, fruit, tea, rubber, coconuts; milk, eggs, hides, beef; fish
Industriesprocessing 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 rate5.6% (2016 est.)
Current Account Balance-$1.932 billion (2016 est.)
-$2.009 billion (2015 est.)
Exports$10.53 billion (2016 est.)
$10.5 billion (2015 est.)
Exports - commoditiestextiles and apparel, tea and spices; rubber manufactures; precious stones; coconut products, fish
Exports - partnersUS 28.8%, UK 10.6%, India 6.6%, Germany 4.9%, Italy 4.5% (2015)
Imports$19.01 billion (2016 est.)
$18.93 billion (2015 est.)
Imports - commoditiespetroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs
Imports - partnersIndia 28.3%, Japan 9.2%, UAE 7.1%, Singapore 6.1% (2015)
Reserves of foreign exchange and gold$6.542 billion (31 December 2016 est.)
$7.303 billion (31 December 2015 est.)
Debt - external$45.1 billion (31 December 2016 est.)
$44.8 billion (31 December 2015 est.)
Stock of direct foreign investment - at home$NA
Stock of direct foreign investment - abroad$NA
Exchange ratesSri 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.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on July 9, 2017

Economy Comparison