Economy of Sri Lanka
Population: 21.67 M (2018)
GDP per Capita: 4,102 USD (2018)
88,900 M.

GDP USD

(2018)

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20,260 M.

EXPORTS USD

(2018)

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26,790 M.

IMPORTS USD

(2018)

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82.90 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 3.21 % (2018)
GDP of 2010 USD USD 85.30 B. (2018)
GDP Current USD USD 88.90 B. (2018)
GDP per Capita Current USD USD 4,102 (2018)
GDP per capita, PPP USD 11,956 (2018)
GDP per Capita, 2010 USD USD 3,936 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 9.00 % (2018)
Government Spending USD 8.00 B. (2018)
Government Debt % GDP 82.90 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 116.26 (2018)
Trade Openness 52.92 % (2018)
Exports of Goods and Services % GDP 22.78 % (2018)
Exports Goods & Services USD 20.26 B. (2018)
Exports Annual Growth 0.49 % (2018)
Imports as % GDP 30.13 % (2018)
Total Imports USD 26.79 B. (2018)
Foreign Direct Investment % GDP 1.81 % (2018)
Foreign Direct Investment USD 1.61 B. (2018)
Current Account Balance % GDP USD -3.16 % (2018)
Current Account Balance USD -2.81 B. (2018)
Trade Balance % GDP -7.35 % (2018)
Trade Balance USD -6.58 B. (2018)
Foreign Exchange Reserves incl Gold USD 6.92 B. (2018)
Remittances % GDP 7.92 % (2018)
Remittances USD 7,015 M. (2018)
Balance of Payments USD 175 M. (2017)

Labor Market

Indicator Value
Labor Force 8.65 M. (2019)
Unemployment Rate 4.32 % (2019)
Unemployment Rate Females 6.69 % (2019)
Unemployment Rate Males 2.88 % (2019)
Youth Unemployment (ages 15-24) 22.72 % (2019)
Labor Force Participation Rate 52.27 % (2019)
Labor Force (Percent Female) 34.71 % (2019)
Female Labor Force Participation Rate 34.76 % (2019)
Male Labor Force Participation Rate 71.86 % (2019)
Dependent People 53.07 % (2018)

Agriculture Sector

Indicator Value
Forest Area 32.90 % (2016)
Forest Area km² 20,634 km² (2016)
Agricultural Land 43.69 % (2016)
Agricultural Land km² 27,400 km² (2016)
Employment 25.70 % (2019)
Value added % GDP 7.87 % (2018)
Agriculture Value added USD 7.00 B. (2018)
Crop Production Index 130.80 (2016)
Precipitation 1,712 mm (2014)
Arable Land 21 % (2016)
Cereal Yield 2,147 kg/hectare (2017)
Food production index 131 (2016)
Rural Population 82 % (2018)
Fertilizer use of Arable Land 132 kg/hectare (2016)
Livestock Production Index 113 (2016)
Economy of Sri Lanka

According to the World Bank and its latest published data, the economy of the Sri Lanka presents a growth rate of 3.21 % (2018) to the previous year.

With a population that reaches 21.67 M (2018) and a gross domestic product of USD 88.90 B. (2018), it translates a Gross Domestic Product per Capita of USD 4,102 placing its inhabitants on the threshold of an Upper middle income country (according to the World Bank's updated classification).

Sri Lanka also has a workforce of 8.65 M. (2019) with an unemployment rate of 4.32 % (2019), where women represent 6.69 % (2019) and men 2.88 % (2019), the unemployment rate for young people between 15-24 years old stood at 22.72 % (2019). The total number of dependent people stands at 53.07 % (2018).

The central government spent 9.00 % (2018) of its gross domestic product that year, which in absolute terms is USD 8.00 B. (2018). Its consolidated public debt reached 82.90 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Sri Lanka exported USD 20.26 B. (2018), which represents 22.78 % (2018) of its gross domestic product, in that same sense its imports reached USD 26.79 B. (2018) with a direct foreign investment of USD 1.61 B. (2018).

Sri Lanka has a forest area of 20,634 km² (2016), which represents 32.90 % (2016) of its total area, an average rainfall of 1,712 mm (2014) per year and a population of 82 % (2018) living in rural areas. With a total area of 27,400 km² (2016) available for agriculture and 25.70 % (2019) of its employments, the agricultural sector contributes to the economy of the Sri Lanka about USD 7.00 B. (2018) (7.87 % (2018) of its GDP).