SRI LANKA

Growing with difficulties

D4

High RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD87,2bn (World ranking 65, World Bank 2017)
Population 21,4mn (World ranking 57, World Bank 2017)
Form of state Republic
Head of government Maithripala Sirisena (President)
Next elections 2020, Parliamentary and Presidential
  • Growing tourism revenues
  • Economic policies broadly supportive of business and economic growth
  • Increasing workers’ remittances
  • Strategic location for trade
  • Fragile external position and weak public finances
  • Fractured nature of the political system, with generally weak coalition governments
  • Vulnerability of export base (highly depending on textiles and clothing)
  • Vulnerability to climate and natural disasters
  • Ethnic tensions remain a threat to stability and growth prospects

Trade structure by destination/origin

(% of total)

Exports Rank Imports
United States 27%
1
22% China
United Kingdom 10%
2
20% India
India 7%
3
5% United Arab Emirates
Germany 5%
4
5% Singapore
Italy 4%
5
5% Japan

Trade structure by product

(% of total)

Exports Rank Imports
Articles of apparel & clothing accessories 46%
1
13% Textile yarn and related products
Coffee, tea, cocoa, spices, and manufactures thereof 15%
2
10% Petroleum, petroleum products and related materials
Rubber manufactures, n.e.s. 6%
3
7% Road vehicles
Miscellaneous manufactured articles, n.e.s. 3%
4
4% Non metallic mineral manufactures, n.e.s.
Vegetables and fruits 3%
5
4% Specialised machinery

Contact Euler Hermes

Economic Research Team

research@eulerhermes.com

Contact Mahamoud Islam

Senior Economist for Asia

mahamoud.islam@eulerhermes.com

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