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COMMONWEALTH INSIGHTS
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Sri Lanka

  • Ease of doing business

    99th

    out of 190 countires (World Bank, 2019)

  • Currency

    Rupee

  • Business Language

    English

  • GDP per Capita

    $38,532

    UK is $41,030 (IMF, 2019)

  • Economic Growth

    2.3%

    (IMF, 2018)

  • Time Zone

    GMT +5

Sri Lanka
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Economic and population growth

Sri Lanka is a lower-middle income country with a GDP per capita of USD 3,852 (2019) and a total population of 21.8 million.

The COVID-19 pandemic has impacted Sri Lanka profoundly, as is the case in many countries. Growth is expected to recover to 3.4 percent in 2021, mainly reflecting a base effect and FDI inflows. Gradually normalizing tourism and other economic activities as well as already signed investments will support growth. However, the subdued global recovery may dampen export demand. Over the medium-term, continued trade restrictions, economic scarring from the slowdown, and the high debt burden may weigh on growth prospects.