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Sri Lanka economy snapshot


Updated March 2020

GDP growth


Sri Lanka’s economic growth rate has been falling steadily over the past 5 years and is currently stands lower than the developing-country average.

Source: World Bank

Source: Asian Development Bank, World Bank, Kapital Economics. *Unweighted average

GDP per capita


GDP per capita rose considerably in the early 2000’s but lately has seen sluggish improvement with 2018 showing no improvement from the previous year.

Source: World Bank

Source: World Bank



Sri Lanka’s exports are still dominated by textile and garments exports, which have not gained competitiveness in the global market place in the past two decades.

Source: World Bank

Source: Central Bank of Sri Lanka


Equity market


Sri Lankan equities have under-performed those in the rest of the world, and notably those in Emerging Markets.

Source: MSCI

Source: MSCI

The current and trade accounts

-3.2%, -11.6%

Incessant weakness in the trade balance have caused a long-standing deficit on the current account, both of which continue to deteriorate.

Source: Central Bank of Sri Lanka.

The income and services accounts

-2.7%, +4.2%

A worrying sign is emerging on the income account, which currently stands at a lower level than it did in the 2009 global recession.

Currently offsetting the income account deficit are tourism earnings, which have risen rapidly over the past decade.

Source: Central Bank of Sri Lanka.

Source: Central Bank of Sri Lanka. *Tourist services are the sum of travel services and passenger transport services



Sri Lanka’s inflation moving with global inflation trends, with all its implications for the standard theory of money and prices.

Source: World Bank

Source: World Bank