
SRI LANKA
A difficult recovery with growing risks
D4
High RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in February 2022.
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GDP |
|
|
Population |
|
|
Form of state | Republic | |
Head of state | Gotabaya Rajapaksa (President) | |
Next elections | 2024, Presidential |

- Growing tourism revenues
- Economic policies broadly supportive of business and economic growth
- Increasing workers’ remittances
- Strategic location for trade

- Fragile external position and weak public finances
- Fractured nature of the political system, with generally weak coalition governments
- Vulnerability of export base (highly depending on textiles and clothing)
- Vulnerability to climate and natural disasters
- Ethnic tensions remain a threat to stability and growth prospects
Trade structure by destination/origin
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
United States
24.8%
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1 |
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United Kingdom
8.9%
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2 |
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India
6.1%
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3 |
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Germany
5.7%
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4 |
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Italy
4.5%
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5 |
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Trade structure by product
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
Articles of apparel & clothing accessories
42.5%
|
1 |
14.5%
Textile yarn and related products
|
Coffee, tea, cocoa, spices, and manufactures thereof
15.6%
|
2 |
10.3%
Petroleum, petroleum products and related materials
|
Rubber manufactures, n.e.s.
5.3%
|
3 |
4.0%
Iron and steel
|
Textile yarn and related products
4.3%
|
4 |
3.7%
Electrical machinery, apparatus and appliances, n.e.s.
|
Vegetables and fruits
4.0%
|
5 |
3.6%
Road vehicles
|
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