SRI LANKA

Growing with difficulties

D4

High RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP
USD84,0bn (World ranking 68, World Bank 2019)
Population
21,8mn (World ranking 57, World Bank 2019)
Form of state Republic
Head of state Gotabaya Rajapaksa  (President)
Next elections 2024, 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
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