Sri Lanka Oil production Sri Lanka Electricity production

Sri Lanka Economy

Economy - overview:in 1977. colombo abandoned statist economic policies and its import substitution trade policy for market-oriented policies and export-oriented trade. sri lanka's most dynamic sectors now are food processing. textiles and apparel. food and beverages. telecommunications. and insurance and banking. in 2003. plantation crops made up only 15% of exports (compared with 93% in 1970). while textiles and garments accounted for 63%. gdp grew at an average annual rate of about 5.5% in the 1990s. but 2001 saw the first contraction in the country's history -1.4%. due to a combination of power shortages. severe budgetary problems. the global slowdown. and continuing civil strife. growth recovered to 5% between 2002 and 2005. about 800.000 sri lankans work abroad. 90% in the middle east. they send home about $1 billion a year. the struggle by the tamil tigers of the north and east for a largely independent homeland continues to cast a shadow over the economy. in late december 2004. a major tsunami took about 31.000 lives. left more than 6.300 missing and 443.000 displaced. and destroyed an estimated $1.5 billion worth of property.

GDP (purchasing power parity) : $86.72 billion (2005 est.)

Inflation rate: 11.2% (2005 est.)

Labor force : 8.08 million (2005 est.)

Industries: rubber processing. tea. coconuts. and other agricultural commodities; telecommunications. insurance. and banking; clothing. cement. petroleum refining. textiles. tobacco

Sri Lanka

			Over view
			Geography
			People
			Government
			Economy
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Sri Lanka More Facts

Electricity - production: 7.308 billion kwh (2003)

Oil - production: 0 bbl/day (2003 est.)

Sri Lanka More Facts

Exports: $6.442 billion f.o.b. (2005 est.)

Imports : $8.37 billion f.o.b. (2005 est.)
Currency (code) : sri lankan rupee (lkr)