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- The country’s economic system combines elements of a market economy and a planned economy. Sri Lanka’s economy is primarily based on agriculture, manufacturing, and services. Key sectors include tea, apparel, tourism, and information technology.
www.economicactivity.org › the-sri-lankan-economic-system
The mixed economy of Sri Lanka was worth $84 billion by nominal gross domestic product (GDP) in 2019 and $296.959 billion by purchasing power parity (PPP). The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers.
Economic & Social Statistics of Sri Lanka. Provides statistical time series on socio economic and financial variables including provincially disaggregated data, where available.
The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
The 2011 Global Competitiveness Report, published by the World Economic Forum, described Sri Lanka's economy as transitioning from the factor-driven stage to the efficiency-driven stage and that it ranked 52nd in global competitiveness.
Against a background of sluggish global economic growth and trade performance, and growing populist sentiment against globalization across the US and Europe, Sri Lanka is positioning itself to raise domestic economic competitiveness and integrate more closely with the rest of the world.
real Sector developments and inflation. as per official data released by the department of census and Statistics (dcS), Sri lanka’s real GdP growth decelerated further during 2017 to 3.1 per cent, from the growth of 4.5 per cent recorded in 2016.1.
The Sri Lanka Development Update has two main aims. First, it reports on the key developments over the past six months in Sri Lanka’s economy, and places these in a longer term and global context. Based on these developments, and on policy changes over the period, it updates the outlook for Sri Lanka’s economy and social welfare.
