Names: conventional long form: Democratic Socialist Republic of Sri Lanka conventional short form: Sri Lanka local long form: Shri Lamka Prajatantrika Samajaya di Janarajaya/Ilankai Jananayaka Choshalichak Kutiyarachu local short form: Shri Lamka/Ilankai former: Serendib, Ceylon
Capital City: Colombo
Population: 20,222,240 note: since the outbreak of hostilities between the government and armed Tamil separatists in the mid-1980s, several hundred thousand Tamil civilians have fled the island and more than 200,000 Tamils have sought refuge in the West (July 2006 est.)
GDP Per Capita: $4,600 (2006 est.)
Currency: Sri Lankan rupee (LKR)
Languages: Sinhala (official and national language) 74%, Tamil (national language) 18%, other 8% note: English is commonly used in government and is spoken competently by about 10% of the population
Total Area: total: 65,610 sq km land: 64,740 sq km water: 870 sq km slightly larger than West Virginia
Region: Asia
Industries: processing of rubber, tea, coconuts, tobacco and other agricultural commodities; telecommunications, insurance, banking; clothing, textiles; cement, petroleum refining
Agriculture: rice, sugarcane, grains, pulses, oilseed, spices, tea, rubber, coconuts; milk, eggs, hides, beef; fish
Resources: limestone, graphite, mineral sands, gems, phosphates, clay, hydropower
Labor Force:
8.214 million (2006 est.)
agriculture: 38% industry: 17% services: 45% (1998 est.)
Exports:
$7.076 billion f.o.b. (2006 est.)
textiles and apparel, tea and spices; diamonds, emeralds, rubies; coconut products, rubber manufactures, fish
Imports:
$9.655 billion f.o.b. (2006 est.)
textile fabrics, mineral products, petroleum, foodstuffs, machinery and transportation equipment
Overview:
In 1977, Colombo abandoned statist economic policies and its import substitution trade policy for more market-oriented policies, export-oriented trade, and encouragement of foreign investment. Recent changes in government have brought some policy reversals, however. Currently, the ruling Sri Lanka Freedom Party has a more statist economic approach which seeks to reduce poverty by steering investment to disadvantaged areas, developing small and medium enterprises, promoting agriculture, and expanding the already enormous civil service. The government has halted most privatizations. Although suffering a brutal civil war that began in 1983, Sri Lanka saw GDP growth average 4.5% in the last ten years, with a brief interruption during the global downturn in 2001. 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. Growth, partly spurred by reconstruction, reached 5% in 2005 and more than 6% in 2006. Sri Lanka's most dynamic sectors now are food processing, textiles and apparel, food and beverages, port contstruction, telecommunications, and insurance and banking. In 2005, plantation crops made up only about 15% of exports (compared with more than 90% in 1970), while textiles and garments accounted for more than 60%. 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 2007 Missouri exported $4,548,329 in goods to Sri Lanka. This ranks Sri Lanka 89th among the 223 international buyers of Missouri goods. Missouri exports to Sri Lanka increased from the previous year by $3,027,832 a change of 199.13%. State exports to Sri Lanka have increased over the last 5 years by $3,863,383 a change of 564.04%. Missouri exports account for .03%. of all 2007 US exports to Sri Lanka.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 684,946 | 856,675 | 2,122,053 | 1,131,113 | 1,520,497 | 4,548,329 | |
| 000 - Total All Industries US | 171,901,406 | 154,757,039 | 163,925,295 | 197,671,717 | 236,633,925 | 227,159,226 | |