Sri Lanka

Description of Sri Lanka

Welcome to our in-depth analysis of Sri Lanka, a vibrant island nation located in South Asia. With a rich history spanning over millennia, Sri Lanka has emerged as a key player in the region, boasting a diverse culture, stunning landscapes, and a rapidly developing economy. In this exploration, we aim to delve into the macroeconomic aspects that shape Sri Lanka's growth trajectory, examining how various statistics and indicators impact its geopolitical standing and relations with other nations.

Population And Age Structure

Population, total: Sri Lanka's population of 21,919,000 is below the average population of 40,097,746. Sri Lanka's rank of 57 out of 194 countries indicates its population size relative to the dataset.

Population ages 0-14 (% of total population): With a value of 23.59%, Sri Lanka has a lower percentage of population in this age group compared to the average of 27.34%. Sri Lanka is ranked 110 out of 194 countries.

Population ages 0-14, total: Sri Lanka's total population in the age group of 0-14 is 5,170,081, below the average of 10,327,380. Sri Lanka ranks 69 out of 194 countries in this category.

Population ages 15-64 (% of total population): Sri Lanka's percentage of population in the age group 15-64 is 65.61%, higher than the average of 63.44%. The country ranks 74 out of 194 countries for this attribute.

Population ages 15-64, total: The total population in Sri Lanka aged 15-64 is 14,381,014, below the average of 26,003,407. Sri Lanka's rank of 56 out of 194 countries reflects the population distribution in this age range.

Population ages 65 and above (% of total population): Sri Lanka has 10.80% of its population in the age group 65 and above, higher than the average of 9.22%. The country ranks 65 out of 194 countries for this metric.

Population ages 65 and above, total: With a population of 2,367,905 in the age group 65 and above, Sri Lanka is below the average of 3,766,959. The country ranks 42 out of 194 countries based on this data.

Summary

Sri Lanka has a smaller total population compared to the average, with a higher proportion of people aged 15-64 and 65 and above, but a lower percentage of children aged 0-14. This population distribution is crucial for policymakers as it impacts healthcare, education, labor force, and social welfare planning in the country.

Population Miscellaneous

For Rural population, Sri Lanka's value is 17,817,298, below the average of 18,044,041.29. This places Sri Lanka at rank 31 out of 190 countries.
In terms of Rural population (% of total population), Sri Lanka's value stands at 81.287%, significantly above the average of 41.16%. Sri Lanka ranks 8 out of 190 countries.
Moving on to Urban population, Sri Lanka has 4,101,702 individuals, notably below the average of 22,425,747.38. Sri Lanka holds the 102nd position out of 194 countries.
Regarding Urban population (% of total population), Sri Lanka records 18.713%, lower than the average of 59.69%. The country ranks 187 out of 194 countries.
The Age dependency ratio (% of working-age population) in Sri Lanka is 52.42%, which is below the average of 59.22%. Sri Lanka is placed 121st out of 194 countries.
Sri Lanka's Birth rate, crude, at 14.235 per 1,000 people, is below the average of 19.38. This places Sri Lanka at the 112th position out of 192 countries.
In terms of Death rate, crude, Sri Lanka's value of 7.056 per 1,000 people is lower than the average of 8.21. The country ranks 115 out of 192 countries.
Lastly, Sri Lanka's Fertility rate, total, is 2 births per woman, below the average of 2.60. The country holds the 104th position out of 190 countries.

Summary

Based on the analysis of key macroeconomic indicators for Sri Lanka, it is evident that the country has a higher percentage of rural population and a lower percentage of urban population compared to the global averages. Additionally, Sri Lanka's age dependency ratio is below the average, indicating a relatively younger population. These statistics are crucial for policymakers and investors to understand the demographic landscape of Sri Lanka, which can impact resource allocation, infrastructure development, and economic planning tailored to the country's unique demographic profile.

Military

- Sri Lanka's Military expenditure is $1.49 billion, below the average of $12.90 billion, ranking 62nd out of 149 countries in the dataset.
- The country spends 1.74% of its GDP on Military expenditure, slightly below the average of 1.90%, ranking 61st out of 148 countries.
- Sri Lanka has 317,000 Armed forces personnel, exceeding the average of 165,909, ranking 22nd out of 164 countries.
- With 3.75% of its total labor force in the Armed forces, Sri Lanka surpasses the average of 1.28%, ranking 11th out of 164 countries.

Summary

Sri Lanka's military expenditure, though below the global average, ranks relatively high in terms of armed forces personnel and percentage of labor force in the armed forces compared to other countries in the dataset. This indicates a significant allocation of resources towards defense and security, potentially impacting budget priorities, national security strategies, and the country's overall geopolitical positioning.

Natural Resources

1. Sri Lanka has a Forest area of 21,130.2 sq. km, ranking 105 out of 191 countries. This is significantly below the attribute average of 211,606.11 sq. km.

2. The Land area of Sri Lanka is 61,860 sq. km, placing it at rank 122 out of 194 countries. This is below the attribute average of 665,166.51 sq. km.

3. Sri Lanka's Surface area is 65,610 sq. km, also ranking 122 out of 194 countries and below the attribute average of 689,779.56 sq. km.

4. The country possesses 1,372,000 hectares of Arable land, ranking 92 out of 190 countries. This falls below the attribute average of 7,329,543.16 hectares.

5. Sri Lanka has 1,144,961 hectares of Land under cereal production, ranking 75 out of 174 countries. This is below the attribute average of 4,206,011.63 hectares.

6. With an Average precipitation in depth of 1712 mm per year, Sri Lanka ranks 44 out of 178 countries. This exceeds the attribute average of 1157.83 mm per year.

7. Sri Lanka's Renewable internal freshwater resources total 52.8 billion cubic meters, ranking 77 out of 178 countries. This is below the attribute average of 240.41 billion cubic meters.

Summary

Sri Lanka ranks below the global average in various key macroeconomic indicators such as forest area, land area, arable land, land under cereal production, and renewable internal freshwater resources. These statistics indicate a limited land resource base for agriculture and forestry, potentially impacting the country's food security, environmental sustainability, and economic development. The lower-than-average precipitation levels also pose challenges for water availability and agricultural productivity in Sri Lanka.

Resource Rents

The Total natural resources rents (% of GDP) for Sri Lanka stand at 0.085, which is significantly below the average of 4.63. This places Sri Lanka at a rank of 148 out of 175 countries in the dataset.

In terms of Forest rents (% of GDP), Sri Lanka also falls below the average with a value of 0.085, compared to the average of 1.53. This places Sri Lanka at a rank of 118 out of 174 countries included in the data.

Summary

Sri Lanka's low Total natural resources rents (% of GDP) and Forest rents (% of GDP) indicate a limited utilization of its natural resources compared to the global average. This may suggest potential untapped economic opportunities or challenges in maximizing the country's resource potential for GDP growth and sustainable development.

Commodities

When it comes to Cereal production, Sri Lanka's value of 5,434,886.5 metric tons is significantly below the attribute average of 17,249,945.93 metric tons. Sri Lanka ranks 52 out of 174 countries in this category.

For Aquaculture production, Sri Lanka's production of 42,118.9 metric tons is well below the attribute average of 679,642.92 metric tons. Sri Lanka holds the 47th position out of 180 countries.

With Capture fisheries production, Sri Lanka's output of 387,042.8 metric tons falls short of the attribute average of 467,453.06 metric tons. The country is ranked 40th out of 190 nations.

Regarding Total fisheries production, Sri Lanka's 429,161.7 metric tons is notably lower than the attribute average of 1,153,914.85 metric tons. Sri Lanka stands at the 42nd position out of 182 countries.

Finally, in terms of Fertilizer consumption, where Sri Lanka uses 298.95 kilograms per hectare of arable land, this value surpasses the attribute average of 159.04 kilograms. Sri Lanka is ranked 23rd out of 187 countries for this metric.

Summary

Sri Lanka's production levels for cereals, aquaculture, capture fisheries, and total fisheries fall below the global averages, indicating potential areas for improvement in the country's agricultural and fisheries sectors. However, Sri Lanka's above-average fertilizer consumption per hectare of arable land signifies a proactive approach towards enhancing agricultural productivity and yields. Addressing the lower production levels while maintaining the efficient use of fertilizers could significantly boost Sri Lanka's food security, economic growth, and international competitiveness in the agriculture and fisheries industries.

Intellectual Property

Industrial design applications, nonresident, by count: Sri Lanka with a value of 32 is significantly below the attribute average of 1415.83. It ranks 92 out of 112 countries in the dataset.

Industrial design applications, resident, by count: Sri Lanka with a value of 249 is below the attribute average of 9799.58. It ranks 54 out of 113 countries in the dataset.

Patent applications, nonresidents: Sri Lanka with 251 applications is below the attribute average of 6538.40. It ranks 55 out of 129 countries in the dataset.

Patent applications, residents: Sri Lanka with 353 applications is below the attribute average of 19037.56. It ranks 51 out of 117 countries in the dataset.

Scientific and technical journal articles: Sri Lanka's publication of 1779.47 articles is below the attribute average of 15103.76. It ranks 70 out of 192 countries in the dataset.

Researchers in R&D (per million people): Sri Lanka has 104.55 researchers per million people, significantly below the average of 2556.45. It ranks 69 out of 72 countries in the dataset.

Summary

Sri Lanka demonstrates lower-than-average performance across various key macroeconomic indicators related to innovation and research. The country's low industrial design and patent application counts, coupled with fewer scientific publications and researchers in R&D per million people, indicate a potential lag in technological advancement and innovation capacity. These indicators are crucial for assessing a country's competitiveness and ability to drive long-term economic growth, highlighting the importance for Sri Lanka to invest more in research and innovation to enhance its global standing and economic resilience.

Broad Economy Attributes

- Sri Lanka's GDP (current US$) is $84,440,516,486.11, which is below the average GDP of $442,870,224,838.68. Sri Lanka ranks 64 out of 189 countries in the dataset.
- The country's GDP, PPP (current international $) stands at $299,506,184,049.77, also below the average. Sri Lanka holds the 54th rank out of 181 countries.
- Sri Lanka's GDP per capita (current US$) is $3852.39, well under the average of $15,462.11. It ranks 118 out of 190 countries.
- The GDP per capita, PPP (current international $) for Sri Lanka is $13,664.23, lower than the average. The country ranks 92 out of 181 nations.
- In terms of GNI (current US$), Sri Lanka reports $82,160,996,720.77, which is below the average. It holds the 63rd rank out of 185 countries.
- Sri Lanka's GNI, PPP (current international $) is $291,420,844,276.96, less than the average value. The country ranks 56 out of 181 nations.
- The GNI per capita, PPP (current international $) for Sri Lanka is $13,300, also below the average. Sri Lanka holds the 93rd rank out of 181 countries.

Summary

Sri Lanka's key macroeconomic indicators such as GDP, GDP per capita, and GNI are all below the global averages, positioning the country at ranks lower than the midpoint in the dataset. These indicators reflect a relatively lower level of economic development and income compared to the global average, which can indicate areas where Sri Lanka may need to focus on further economic growth strategies and increasing income levels for its population.

Broad Value Added

- Gross value added at basic prices (GVA) in Sri Lanka is $79,515,427,878.05, ranking 60 out of 176 countries. This value is below the attribute average of $360,070,943,595.12.

- Agriculture, forestry, and fishing value added (% of GDP) in Sri Lanka is 8.24%, ranking 85 out of 182 countries. This value is below the attribute average of 10.86%.

- Agriculture, forestry, and fishing value added in Sri Lanka is $6,956,220,237.23, ranking 57 out of 182 countries. This value is below the attribute average of $19,924,732,828.07.

- Services value added (% of GDP) in Sri Lanka is 57.74%, ranking 81 out of 183 countries. This value is above the attribute average of 56.72%.

- Services value added in Sri Lanka is $48,755,187,437.43, ranking 64 out of 183 countries. This value is below the attribute average of $295,837,711,130.69.

- Industry (including construction) value added in Sri Lanka is $23,804,020,203.39, ranking 66 out of 183 countries. This value is below the attribute average of $118,421,095,413.50.

Summary

Sri Lanka's economy demonstrates a significant reliance on the services sector, with services value added contributing the most to its GDP at 57.74%. However, the country lags behind in agriculture, forestry, and fishing value added, both in percentage of GDP (8.24%) and total value added ($6,956,220,237.23), ranking 85th and 57th respectively. Additionally, Sri Lanka's industry sector also falls below the attribute average, indicating potential room for growth and development in this area. These indicators are essential as they highlight the need for diversification and strengthening of the agriculture and industry sectors to achieve a more balanced and robust economy.

Manufacturing Value Added

Sri Lanka's Manufacturing, value added in current US dollars is significantly below the attribute average, ranking 59th out of 173 countries. This indicates potential for growth in the manufacturing sector.

The country's Manufacturing, value added as a percentage of GDP is above the attribute average, ranking 39th out of 173 countries. This suggests a relatively strong contribution of manufacturing to Sri Lanka's overall economic output.

Sri Lanka's Medium and high-tech manufacturing value added as a percentage of total manufacturing value added is notably below the attribute average, ranking 117th out of 149 countries. This indicates a potential area for technological advancement and investment.

Chemicals as a percentage of value added in manufacturing in Sri Lanka is below the attribute average, ranking 70th out of 89 countries. This implies room for growth and productivity improvements in the chemical manufacturing sector.

Sri Lanka's Food, beverages and tobacco as a percentage of value added in manufacturing is above the attribute average, ranking 24th out of 92 countries. This signifies a significant contribution of this sector to Sri Lanka's manufacturing industry.

The country's Machinery and transport equipment as a percentage of value added in manufacturing is notably below the attribute average, ranking 87th out of 93 countries. This indicates potential for development and modernization in this specific area of manufacturing.

Sri Lanka's Textiles and clothing as a percentage of value added in manufacturing is well above the attribute average, ranking 2nd out of 93 countries. This highlights the strength and significance of the textile and clothing industry in Sri Lanka's manufacturing sector.

Other manufacturing as a percentage of value added in manufacturing in Sri Lanka is notably below the attribute average, ranking 90th out of 94 countries. This suggests room for diversification and improvement in other manufacturing sub-sectors.

Summary

Overall, Sri Lanka shows potential for growth in its manufacturing sector, with strengths in areas such as Manufacturing value added as a percentage of GDP and Food, beverages, and tobacco manufacturing. However, there are areas like Medium and high-tech manufacturing, Chemicals, Machinery and transport equipment, and Other manufacturing that indicate room for improvement and development. Addressing these areas could lead to technological advancement, diversification, and modernization, further boosting Sri Lanka's manufacturing industry and overall economic output.

Money

Regarding Inflation, consumer prices, Sri Lanka's rate is 6.15%, which is below the average of 8.26%. This places Sri Lanka at rank 26 out of 165 countries included in the data.

As for Inflation, GDP deflator, Sri Lanka's rate stands at 3.27%, lower than the average of 6.90%. This positions Sri Lanka at rank 68 out of 188 countries included in the data.

Summary

Sri Lanka demonstrates relatively lower inflation rates compared to the global average both in terms of consumer prices and GDP deflator. Despite being ranked 26th in consumer price inflation and 68th in GDP deflator inflation out of a considerable number of countries, the country's below-average rates suggest a stable pricing environment. This stability can attract investments, encourage consumer spending, and facilitate long-term economic planning for businesses and the government.

Consumption Expenditure

Final consumption expenditure in Sri Lanka is $61.79 billion, which is below the average of $381.63 billion, ranking 64th out of 159 countries.

Final consumption expenditure as a percentage of GDP in Sri Lanka is 73.18%, below the average of 82.37%, placing the country in the 116th position out of 159 countries.

General government final consumption expenditure in Sri Lanka is $8.77 billion, well below the average of $93.68 billion, ranking 76th out of 158 countries.

General government final consumption expenditure as a percentage of GDP in Sri Lanka is 10.38%, lower than the average of 18.71%, placing the country in the 137th position out of 158 countries.

Household and NPISHs final consumption expenditure in Sri Lanka amounts to $53.03 billion, below the average of $290.13 billion, ranking 64th out of 158 countries.

Households and NPISHs final consumption expenditure as a percentage of GDP in Sri Lanka is 62.80%, slightly below the average of 63.68%, positioning the country at 78th place out of 158 countries.

Summary

Sri Lanka's final consumption expenditure, both in terms of total and as a percentage of GDP, falls below the global average, ranking the country lower among its peers. This indicates potential challenges in domestic consumption dynamics and overall economic health. Understanding these figures is crucial for policymakers to address underlying factors hindering higher consumption levels and to drive sustainable economic growth.

Equities

Listed domestic companies, total attribute: Sri Lanka has 283 listed domestic companies, which is below the average of 636.625. This ranks Sri Lanka 23rd out of 72 countries in the dataset.

Stocks traded, total value (current US$) attribute: Sri Lanka's total value of $1,855,740,000 is significantly lower than the average of $1,379,501,950,182.91. This places Sri Lanka at the 43rd rank out of 71 countries.

Stocks traded, total value (% of GDP) attribute: Sri Lanka's percentage of GDP in stocks traded is 2.20%, much lower than the average of 31.65%. Sri Lanka ranks 40th out of 71 countries in this aspect.

Market capitalization of listed domestic companies (current US$) attribute: Sri Lanka's market capitalization stands at $15,981,910,000, well below the average of $1,196,037,851,618.88. Sri Lanka is ranked 52nd out of 73 countries in this metric.

Market capitalization of listed domestic companies (% of GDP) attribute: Sri Lanka's market capitalization as a percentage of GDP is 18.93%, which is lower than the average of 71.24%. Sri Lanka holds the 56th position out of 73 countries.

S&P Global Equity Indices (annual % change) attribute: Sri Lanka experienced a -6.88% change in the S&P Global Equity Indices, significantly lower than the average of 2.06%. This places Sri Lanka at the 51st rank out of 79 countries.

Summary

Sri Lanka lags behind global averages in key macroeconomic indicators relating to its stock market and equity indices. With fewer listed domestic companies, lower stock value and market capitalization compared to the averages, and a negative change in S&P Global Equity Indices, Sri Lanka faces challenges in attracting investments and fostering a robust financial market. These indicators are crucial as they reflect the country's market depth, investor confidence, and economic stability, all of which are vital for sustainable economic growth and development.

Investment

Foreign direct investment, net (BoP, current US$): Sri Lanka received a net FDI of -419,532,884.72, which is below the average of -1,615,235,980.51. This places Sri Lanka at rank 87 out of 169 countries in the dataset.

Foreign direct investment, net inflows (BoP, current US$): Sri Lanka's net FDI inflows of 434,075,668.47 are well below the average of 5,749,271,080.15. Sri Lanka is ranked 99 out of 182 countries for this metric.

Foreign direct investment, net inflows (% of GDP): Sri Lanka's FDI inflows as a percentage of GDP at 0.51% is significantly lower than the average of 2.61%. This places Sri Lanka at rank 135 out of 178 countries.

Foreign direct investment, net outflows (BoP, current US$): Sri Lanka's net FDI outflows amount to 14,542,783.75, much lower than the average of 5,707,991,116.07. Sri Lanka ranks 94 out of 156 countries in this aspect.

Foreign direct investment, net outflows (% of GDP): Sri Lanka's FDI outflows as a percentage of GDP are 0.02%, below the average of 1.00%. Sri Lanka is ranked 111 out of 155 countries for this metric.

Portfolio Investment, net (BoP, current US$): Sri Lanka recorded a net portfolio investment of 2,383,098,882.52, surpassing the average of 679,559,169.57. Sri Lanka ranks 33 out of 159 countries in this category.

Portfolio investment, bonds (PPG + PNG) (NFL, current US$): Sri Lanka's portfolio investment in bonds of -1,000,000,000 is below the average of 4,134,263,915.25. This places Sri Lanka at rank 55 out of 59 countries included in this data.

Portfolio equity, net inflows (BoP, current US$): Sri Lanka experienced net outflows in portfolio equity amounting to -216,741,809.90, compared to the average inflows of 9,197,145,994.70. Sri Lanka is ranked 95 out of 125 countries for this metric.

Summary

Sri Lanka's performance in foreign direct investment indicates that it is lagging behind compared to the global average, with lower net FDI, net FDI inflows, and net FDI outflows both in absolute terms and as a percentage of GDP. However, the country has excelled in portfolio investment, specifically in net portfolio investment, showcasing strength in that area. These indicators are crucial as they reflect the level of confidence and interest from foreign investors in the country's economy, impacting its growth potential and financial stability.

Debt

The Total debt service (% of GNI) in Sri Lanka is 6.14%, slightly above the average of 5.98%. This places Sri Lanka at rank 43 out of 120 countries.

Public and publicly guaranteed debt service (% of GNI) for Sri Lanka is 5.30%, notably higher than the average of 2.84%. Sri Lanka is ranked 14 out of 120 countries for this attribute.

External debt stocks (% of GNI) in Sri Lanka stand at 69.22%, which exceeds the average of 65.42%. Sri Lanka ranks 39 out of 120 countries for this metric.

Debt service on external debt, total (TDS, current US$) for Sri Lanka is $5.05 billion, significantly below the average of $9.81 billion. Sri Lanka is ranked 29 out of 123 countries in this aspect.

Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) is $4.35 billion for Sri Lanka, surpassing the average of $3.31 billion. Sri Lanka ranks 20 out of 123 countries for this statistic.

External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) amount to $37.57 billion in Sri Lanka, indicating a value higher than the average of $28.70 billion. Sri Lanka is ranked 22 out of 123 countries for this parameter.

External debt stocks, private nonguaranteed (PNG) (DOD, current US$) stand at $8.98 billion for Sri Lanka, significantly lower than the average of $33.73 billion. Sri Lanka ranks 38 out of 91 countries in this category.

External debt stocks, total (DOD, current US$) in Sri Lanka amount to $56.87 billion, below the average of $73.85 billion. Sri Lanka is ranked 28 out of 123 countries for this metric.

Summary

Sri Lanka has mixed results in key macroeconomic indicators related to debt service and external debt stocks. While the country performs well in terms of debt service metrics like Total debt service (% of GNI) and Debt service on external debt, total (TDS, current US$), it has higher external debt stocks compared to the average. These indicators are crucial as they reflect Sri Lanka's ability to manage its debt obligations, attract foreign investment, and maintain financial stability in the global market.

Broad Trade Attributes

Trade (% of GDP): Sri Lanka has a trade value of 37.03% of GDP, which is below the average of 82.34%. The country is ranked 141 out of 163 countries in this attribute data.

Merchandise trade (% of GDP): Sri Lanka's merchandise trade value is 30.91% of GDP, below the average of 60.01%. The country is ranked 159 out of 186 countries in this attribute data.

Trade in services (% of GDP): Sri Lanka's trade in services is at 6.22% of GDP, lower than the average of 24.63%. The country is ranked 149 out of 171 countries in this attribute data.

External balance on goods and services (current US$): Sri Lanka has an external balance of -5204808812.42 USD, significantly below the average of 3405509011.13 USD. The country is ranked 139 out of 163 countries in this attribute data.

External balance on goods and services (% of GDP): Sri Lanka's external balance is at -6.16% of GDP, slightly below the average of -5.97%. The country is ranked 95 out of 163 countries in this attribute data.

Summary

Sri Lanka exhibits a trade imbalance with low trade (% of GDP) and merchandise trade (% of GDP) figures, ranking below average globally. The country also struggles with a negative external balance on goods and services, both in absolute terms and as a percentage of GDP. These indicators are crucial as they highlight the vulnerability of Sri Lanka's economy to external shocks and the need for policy adjustments to enhance trade competitiveness and promote sustainable economic growth.

Net Trade

- The current account balance (BoP, current US$) for Sri Lanka is -1187120153.20, which is below the average of 1443864831.49. Sri Lanka ranks 115th out of 170 countries for this attribute.
- Sri Lanka's current account balance (% of GDP) is -1.41, also below the average of -2.36. Sri Lanka ranks 83rd out of 170 countries in this aspect.
- Net trade in goods and services (BoP, current US$) for Sri Lanka stands at -5188536224.27, which is significantly below the average of 2604730003.57. Sri Lanka ranks 144th out of 171 countries.
- Sri Lanka's net primary income (BoP, current US$) is -2205355312.45, showing a negative difference from the average of -903807529.74. The country ranks 123rd out of 170 countries for this attribute.
- In terms of net secondary income (BoP, current US$), Sri Lanka's value is 6206771383.51, substantially higher than the average of -269227340.40. Sri Lanka ranks 17th out of 170 countries in this category.
- Sri Lanka's net trade in goods (BoP, current US$) is at -6007948709.46, much lower than the average of 1302831005.68. The country ranks 141st out of 171 countries.
- The net capital account (BoP, current US$) for Sri Lanka is 28060183.23, below the average of 136543824.05. Sri Lanka ranks 90th out of 159 countries considered.
- Finally, the net financial account (BoP, current US$) for Sri Lanka is -394351266.52, below the average of -469840994.63, with a rank of 100 out of 170 countries in the dataset.

Summary

Sri Lanka's macroeconomic indicators paint a mixed picture of its economic health. The country performs poorly in metrics like the current account balance and net trade in goods, ranking below average globally. However, it excels in net secondary income, showcasing strength in specific areas. These indicators are crucial as they highlight where Sri Lanka stands in terms of trade, income flows, and overall economic stability, providing insights for policymakers and investors on areas that may need attention or areas of potential growth.

Broad Export Attributes

1. Sri Lanka's Exports of goods, services and primary income amount to 13.28 billion USD, ranking 84 out of 170 countries. This value is significantly below the attribute average of 146.24 billion USD.

2. The country's Exports of goods and services total 13.08 billion USD, placing Sri Lanka at rank 83 out of 170 countries. This figure is also notably lower than the attribute average of 122.94 billion USD.

3. Sri Lanka's Exports of goods and services, in current US dollars, stand at 13.03 billion USD, ranking 83 out of 163 countries. This value falls below the attribute average of 129.60 billion USD.

4. The Exports of goods and services as a percentage of GDP for Sri Lanka is 15.43%, placing the country at rank 137 out of 163 countries. This percentage is below the attribute average of 38.19%.

5. Goods exports from Sri Lanka total 10.05 billion USD, positioning the country at rank 83 out of 171 countries. This value is beneath the attribute average of 93.31 billion USD.

6. Sri Lanka's International tourism receipts account for 8.22% of total exports. The country ranks 36 out of 120 nations in this aspect, slightly below the attribute average of 9.74%.

7. The country's ICT goods exports as a percentage of total goods exports stand at 0.26%. Sri Lanka occupies rank 91 out of 142 countries, significantly below the attribute average of 3.81%.

Summary

Sri Lanka's exports across various categories, including goods, services, and primary income, are below global averages and rank lower compared to a significant number of countries. The country's percentage of goods exports as a share of GDP is notably lower than the average. Additionally, Sri Lanka's international tourism receipts and ICT goods exports percentages are also below the attribute averages, indicating potential room for growth and further diversification of the economy.

These findings are crucial as they highlight areas where Sri Lanka may need to focus on enhancing its export competitiveness and diversification efforts. By addressing these shortcomings, the country can potentially boost its economic growth, create more sustainable revenue streams, and improve its overall global trade position.

Merchandise Exports

- Sri Lanka's merchandise exports amount to $10,047,000,000, ranking 84th out of 187 countries. This is below the average of $89,542,711,229.95 for merchandise exports.
- Agricultural raw materials exports account for 3.35% of Sri Lanka's merchandise exports, ranking 35th out of 151 countries. This percentage is higher than the average of 2.97%.
- Food exports make up 26.60% of Sri Lanka's merchandise exports, ranking 47th out of 152 countries, which is higher than the average of 24.06%.
- Fuel exports represent 2.74% of Sri Lanka's merchandise exports, placing them 78th out of 147 countries. This figure is below the average of 13.70%.
- Ores and metals exports constitute 0.55% of Sri Lanka's merchandise exports, ranking 134th out of 152 countries and falling below the average of 9.10%.
- Sri Lanka's residual merchandise exports account for 1.20% of total merchandise exports, ranking 55th out of 166 countries. This figure is below the average of 3.20%.

Summary

Sri Lanka's merchandise exports amount to $10,047,000,000, ranking 84th globally. The country's strength lies in agricultural raw materials and food exports, where it ranks higher than the global average. However, Sri Lanka lags behind in fuel, ores and metals, and residual merchandise exports, signaling potential areas for development. Understanding these export dynamics is crucial for policymakers to strategize ways to diversify export products, strengthen key sectors, and enhance global competitiveness for sustainable economic growth.

Technology Exports

Regarding Manufactures exports (% of merchandise exports), Sri Lanka has a value of 66.76%, which is 24.14% above the average of 42.62%. This places Sri Lanka at rank 47 out of 152 countries included in the data.

For High-technology exports (current US$), Sri Lanka has a value of $83,149,831, which is significantly below the average of $16,655,934,078.80. Sri Lanka ranks 81 out of 151 countries for this attribute.

In terms of High-technology exports (% of manufactured exports), Sri Lanka's value is 1.26%, well below the average of 10.15%. This places Sri Lanka at rank 129 out of 150 countries in the dataset.

Looking at Medium and high-tech exports (% manufactured exports), Sri Lanka's value stands at 9.09%, significantly lower than the average of 34.29%. Sri Lanka ranks 122 out of 149 countries for this attribute.

Summary

Sri Lanka performs above average in Manufactures exports (% of merchandise exports) but lags significantly behind in High-technology exports and related indicators such as High-technology exports (% of manufactured exports) and Medium and high-tech exports (% manufactured exports). This reveals a potential gap in Sri Lanka's technological capabilities and diversification in exports, which could impact its competitiveness and economic growth in the long run.

Service Exports

For Service exports (BoP, current US$), Sri Lanka's value is $3,035,372,503.59, below the average of $28,917,292,503.82. Sri Lanka ranks 77 out of 171 countries in this attribute.

ICT service exports (BoP, current US$) for Sri Lanka amount to $994,802,008.71, falling below the average of $4,578,501,153.77. Sri Lanka's rank is 55 out of 166 countries.

ICT service exports (% of service exports, BoP) in Sri Lanka stand at 32.77%, significantly higher than the average of 11.75%. The country holds the 11th rank out of 166 countries included in the data.

Communications, computer, etc. (% of service exports, BoP) is 34.40% for Sri Lanka, below the average of 45.85%. Sri Lanka ranks 111 out of 169 countries for this attribute.

Transport services (% of service exports, BoP) make up 38.67% for Sri Lanka, surpassing the average of 21.80%. Sri Lanka holds the 26th rank out of 169 countries.

Travel services (% of service exports, BoP) constitute 22.48% for Sri Lanka, slightly lower than the average of 26.40%. Sri Lanka ranks 77 out of 167 countries for this attribute.

Insurance and financial services (% of service exports, BoP) amount to 4.45% for Sri Lanka, below the average of 6.46%. Sri Lanka holds the 70th rank out of 161 countries in this category.

Summary

Sri Lanka's performance in various service export indicators reflects a mixed picture. While the country excels in ICT service exports as a percentage of total service exports, it falls short in areas such as communications and financial services. The high percentage of ICT service exports indicates a specialization in this sector, offering a competitive advantage in the global market. However, diversification across different service sectors may be crucial to enhance resilience and sustain long-term growth.

Commercial Service Exports

Commercial service exports (current US$): Sri Lanka's commercial service exports amount to $3,009,047,503.41, ranking 76th out of 171 countries. This is below the average commercial service exports of $28,508,218,402.80.

Travel services (% of commercial service exports): Sri Lanka's travel services account for 22.68% of its commercial service exports, ranking 79th out of 167 countries. This percentage is below the average of 27.89%.

Computer, communications and other services (% of commercial service exports): Sri Lanka's services in this category represent 33.82% of its commercial service exports, placing it at the 105th rank out of 169 countries. This percentage falls below the average of 42.44%.

Insurance and financial services (% of commercial service exports): Sri Lanka's insurance and financial services contribute 4.49% to its commercial service exports, ranking 72nd out of 161 countries. This percentage is lower than the average of 6.97%.

Transport services (% of commercial service exports): Sri Lanka's transport services contribute 39.01% to its commercial service exports, ranking 31st out of 169 countries. This percentage is notably higher than the average of 23.37%.

Summary

In analyzing Sri Lanka's key macroeconomic indicators on commercial service exports, we find that the country's performance is below average across various service sectors such as travel services, computer, communications and other services, and insurance and financial services. However, Sri Lanka excels in transport services, contributing a notably higher percentage to its commercial service exports compared to the global average.

These findings are important as they highlight Sri Lanka's strengths and weaknesses in different service sectors, indicating areas that may require more focus for growth and development. Understanding these statistics can help policymakers and stakeholders make informed decisions to enhance Sri Lanka's competitiveness in the global market and strengthen its economy.

Broad Import Attributes

Imports of goods and services (current US$): Sri Lanka's value of $18,236,658,85.60 is below the average of $126,191,355,599.06. It ranks 77 out of 163 countries.

Imports of goods and services (% of GDP): Sri Lanka's value of 21.60% is below the average of 44.15%. It ranks 138 out of 163 countries.

International tourism, expenditures (% of total imports): Sri Lanka's value of 4.39% is above the average of 3.98%. It ranks 33 out of 131 countries.

ICT goods imports (% total goods imports): Sri Lanka's value of 5.36% is below the average of 6.85%. It ranks 69 out of 143 countries.

Goods imports (BoP, current US$): Sri Lanka's value of $16,055,375,878.39 is below the average of $92,007,788,027.17. It ranks 72 out of 171 countries.

Imports of goods and services (BoP, current US$): Sri Lanka's value of $18,271,335,896.80 is below the average of $120,321,577,988.12. It ranks 78 out of 170 countries.

Imports of goods, services and primary income (BoP, current US$): Sri Lanka's value of $20,674,990,530.70 is below the average of $144,514,428,722.28. It ranks 79 out of 170 countries.

Summary

Sri Lanka's imports of goods and services, both in terms of absolute value and as a percentage of GDP, are below global averages, ranking 77th and 138th out of 163 countries, respectively. However, the country's expenditures on international tourism are relatively high, ranking 33rd out of 131 countries. This suggests that while Sri Lanka may have a limited capacity for importing goods and services, it has been successful in attracting tourism revenue, which can support economic growth and foreign exchange earnings.

Merchandise Imports

1. Sri Lanka's merchandise imports amount to $16,055,000,000, which is below the attribute average of $89,385,605,263. It ranks 78th out of 190 countries in this category.

2. Sri Lanka's manufactures imports account for 67.04% of its total merchandise imports, slightly above the attribute average of 66.76%. It ranks 86th out of 152 countries in this aspect.

3. Sri Lanka's agricultural raw materials imports make up 2.16% of its merchandise imports, significantly higher than the attribute average of 1.27%. It ranks 19th out of 152 countries.

4. Sri Lanka's food imports as a percentage of merchandise imports stand at 15.69%, slightly below the attribute average of 15.89%. It holds the 63rd rank out of 152 countries.

5. Sri Lanka's fuel imports constitute 13.42% of its merchandise imports, notably higher than the attribute average of 11.38%. It ranks 52nd out of 152 countries.

6. Sri Lanka's ores and metals imports represent 1.63% of its merchandise imports, lower than the attribute average of 2.57%. It ranks 76th out of 152 countries.

7. Sri Lanka's merchandise imports by the reporting economy, residual, stand at 2.11% of its total merchandise imports, below the attribute average of 2.51%. It ranks 39th out of 180 countries in this category.

Summary

Overall, Sri Lanka's merchandise imports show a mixed performance compared to global averages and rankings. While the country imports a higher percentage of agricultural raw materials and fuel than average, it brings in fewer ores and metals. These indicators reflect Sri Lanka's reliance on certain imports and its potential vulnerabilities in terms of diversification and resource availability.

Service Imports

Service imports in Sri Lanka amount to $2.22 billion, ranking 93 out of 171 countries included in the data. This value is significantly below the average service imports of $27.62 billion.

Communications, computer, etc. constitute 18.31% of Sri Lanka's service imports. This percentage is below the average of 44.40%, with Sri Lanka ranking 155 out of 169 countries in this category.

Transport services represent 47.81% of Sri Lanka's service imports, ranking 31 out of 169 countries. This value is notably higher than the average of 32.90%.

Travel services contribute 20.25% to Sri Lanka's service imports, exceeding the average of 14.14%. Sri Lanka ranks 37 out of 169 countries in this aspect.

Insurance and financial services make up 13.63% of Sri Lanka's service imports. This percentage is higher than the average of 8.53%, with Sri Lanka ranking 30 out of 169 countries.

Summary

Sri Lanka's service imports are below the global average, with a notable focus on transport services. While the country excels in the importation of transport services, it lags in communications, computer, and other services. This imbalance indicates a potential opportunity for Sri Lanka to diversify and strengthen its service imports, especially in the technology sector, to align more closely with global averages and improve its economic competitiveness.

Commercial Service Imports

Analysis of key service import attributes for Sri Lanka:

Summary

The analysis reveals that Sri Lanka has a relatively low total commercial service import value compared to the average of all countries studied. However, Sri Lanka's proportion of insurance and financial services within its commercial service imports surpasses the average, indicating strength in this sector. Furthermore, the country gives significant importance to transport and travel services as reflected by their higher percentage composition in commercial service imports.

These findings are important as they highlight Sri Lanka's comparative advantage in insurance and financial services, while also shedding light on the key sectors that drive its service import activities. Understanding these attributes can assist policymakers, investors, and businesses in identifying opportunities for growth and strategic partnerships within Sri Lanka's service sector.

Infrastructure

1. Sri Lanka's air freight transport of 226.479 million ton-km is significantly below the attribute average of 1384.365 million ton-km, ranking at 40 out of 126 countries.

2. The country's 10,045 registered carrier departures worldwide are well below the attribute average of 134,365 departures, placing Sri Lanka at rank 80 out of 149 countries.

3. Sri Lanka carried 1,240,391 air passengers, notably lower than the attribute average of 11,848,243 passengers, ranking the country 66 out of 149 nations.

4. Sri Lanka's container port traffic of 6,850,000 TEU is slightly below the attribute average of 6,907,110 TEU, positioning the country at rank 25 out of 110 countries.

Summary

Sri Lanka's key macroeconomic indicators in air freight transport, carrier departures, air passengers, and container port traffic are all below the respective attribute averages, indicating a lag behind global norms in transportation infrastructure and activity. This could hinder the country's competitiveness in global trade, limit connectivity with other nations, and could be a barrier to economic growth and development.

Information Technology Infrastructure

1. Sri Lanka has 8,422 secure internet servers, which is significantly below the average of 458,294 for 193 countries, ranking 71st.

2. With 384.23 secure internet servers per 1 million people, Sri Lanka falls well below the average of 14,067.17, ranking 103rd out of 193 countries.

3. Only 36.18% of Sri Lanka's population uses the internet, much lower than the average of 64.77% for 180 countries, placing Sri Lanka at 144th.

4. Sri Lanka has 1,781,530 fixed broadband subscriptions, below the average of 6,591,956 for 185 countries, ranking 58th.

5. With 29,730,465 mobile cellular subscriptions, Sri Lanka is below the average of 42,526,464 for 193 countries, ranking 46th.

Summary

Sri Lanka lags behind global averages in key technology indicators such as secure internet servers, internet usage, fixed broadband subscriptions, and mobile cellular subscriptions. This indicates a digital divide compared to other countries and may hinder the country's competitiveness, innovation, and economic development in an increasingly digital world.

Energy Consumption

Regarding renewable energy consumption, Sri Lanka's percentage of 49.32 is above the average of 32.18. The country ranks 51st out of 191 countries in the dataset.

In terms of CO2 emissions, Sri Lanka's value of 21,846.3 kt is significantly below the average of 171,895.94 kt. The country holds the 77th rank out of 188 countries included in the data.

Summary

Sri Lanka surpasses the global average in renewable energy consumption with a percentage of 49.32 and ranks 51st out of 191 countries, showcasing its commitment to sustainability. Additionally, the country's relatively low CO2 emissions of 21,846.3 kt compared to the average of 171,895.94 kt and its 77th ranking out of 188 countries highlight Sri Lanka's contribution to mitigating climate change and fostering environmental stewardship.

These statistics are crucial as they indicate Sri Lanka's progress towards achieving environmentally sustainable development goals and its efforts to reduce carbon footprint, which is essential in combating climate change on a global scale.

Government Balance Sheet

1. Sri Lanka's net acquisition of financial assets (% of GDP) is -0.0227, below the average of 2.4498. With a rank of 67 out of 87 countries, Sri Lanka is among the lower end in this attribute.

2. The country's net incurrence of liabilities, total (% of GDP) stands at 10.6415, exceeding the average of 7.4311. This places Sri Lanka at the 21st position out of 92 countries.

3. Sri Lanka's total reserves (% of total external debt) is 9.9588, significantly lower than the average of 66.1254. The country holds the 97th rank out of 102 nations in this aspect.

4. In terms of reserves and related items (BoP, current US$), Sri Lanka's value is -1977143701.7415, contrasting the average of 1924407186.5797. This places Sri Lanka at the 147th position out of 171 countries.

5. Sri Lanka's total reserves minus gold (current US$) is 5256670223.9508, well below the average of 74221588171.6139. The country ranks 85th out of 161 countries in this regard.

6. Total reserves (includes gold, current US$) in Sri Lanka amount to 5663994385.3278, compared to the average of 85708019773.4723. Sri Lanka holds the 88th rank out of 161 countries.

7. Finally, Sri Lanka's total reserves in months of imports are 3.2874, below the average of 7.0969. The country ranks 111th out of 151 nations in this metric.

Summary

Sri Lanka's macroeconomic indicators point to challenges in managing its financial assets and liabilities, as well as maintaining adequate reserves compared to its debt obligations. The country ranks lower than the global average in most categories, indicating potential vulnerabilities in its economic stability and ability to withstand external shocks. Addressing these deficiencies is crucial for Sri Lanka to enhance its financial resilience and ensure sustainable economic development.

Government Revenue

Revenue, excluding grants in Sri Lanka accounts for 8.73% of GDP, which is below the average of 27.02%. This places Sri Lanka at rank 118 out of 122 countries included in the data.

Grants and other revenue make up 9.05% of total revenue in Sri Lanka, lower than the average of 23.54%. Sri Lanka ranks 89th out of 108 countries in this aspect.

Social contributions in Sri Lanka stand at 2.36% of revenue, significantly below the average of 22.29%. This places Sri Lanka at rank 70 out of 81 countries included in the data.

Taxes on goods and services contribute 41.59% to total revenue in Sri Lanka, higher than the average of 31.82%. Sri Lanka ranks 24th out of 122 countries in this category.

Taxes on international trade make up 26.33% of revenue in Sri Lanka, well above the average of 6.24%. This places Sri Lanka at rank 3 out of 101 countries.

Other taxes constitute 3.30% of revenue in Sri Lanka, higher than the average of 2.12%. Sri Lanka ranks 24th out of 106 countries in this regard.

Taxes on income, profits, and capital gains contribute 17.35% to total revenue in Sri Lanka, below the average of 24.66%. Sri Lanka ranks 82nd out of 119 countries in this aspect.

Summary

Sri Lanka's revenue composition deviates from global averages in several key areas. The country relies heavily on taxes on goods and services and international trade for revenue generation, surpassing global averages significantly. However, Sri Lanka falls below average in revenue from income, profits, and capital gains, grants, and social contributions. These statistics are crucial as they indicate Sri Lanka's revenue sources and potential vulnerabilities, highlighting areas where the country may need to focus on diversification or reform to improve fiscal sustainability and resilience.

Taxes

Tax revenue (% of GDP): Sri Lanka's tax revenue is 7.76% of its GDP, which is below the average of 16.72%. This places Sri Lanka at a rank of 118 out of 123 countries in the dataset.

Taxes on exports (% of tax revenue): Sri Lanka's taxes on exports account for 0.17% of its tax revenue, significantly below the average of 2.54%. This places Sri Lanka at a rank of 16 out of 36 countries in the dataset.

Customs and other import duties (% of tax revenue): Sri Lanka's customs and import duties constitute 29.56% of its tax revenue, well above the average of 9.01%. This places Sri Lanka at a rank of 5 out of 99 countries in the dataset.

Taxes on income, profits and capital gains (% of total taxes): Sri Lanka's taxes on income, profits, and capital gains amount to 19.59% of its total taxes, below the average of 38.40%. This places Sri Lanka at a rank of 108 out of 120 countries in the dataset.

Tariff rate, applied, weighted mean, all products (%): Sri Lanka's applied tariff rate is 6.28%, slightly above the average of 5.21%. This places Sri Lanka at a rank of 54 out of 153 countries in the dataset.

Summary

Sri Lanka exhibits a relatively low tax revenue as a percentage of its GDP, ranking below average globally. Particularly noteworthy is the country's high reliance on customs and import duties for tax revenue, exceeding the global average significantly. This could indicate a heavy dependence on international trade for government income and may have implications for Sri Lanka's trade competitiveness and economic resilience.

Government Expenses

Expense (% of GDP): Sri Lanka's expense as a percentage of GDP is 19.04%, which is below the average of 31.69%. This places Sri Lanka at rank 101 out of 123 countries.

Compensation of employees (% of expense): Sri Lanka allocates 26.62% of its expense to employee compensation, slightly above the average of 24.70%. This places Sri Lanka at rank 52 out of 123 countries.

Goods and services expense (% of expense): Sri Lanka spends 6.04% of its expense on goods and services, significantly below the average of 14.77%. This places Sri Lanka at rank 102 out of 122 countries.

Interest payments (% of expense): Sri Lanka's interest payments account for 32.86% of its expenses, well above the average of 6.85%. This places Sri Lanka at the top rank, 1 out of 121 countries.

Other expense (% of expense): Sri Lanka's other expenses make up 0.13% of its total expenses, considerably below the average of 8.29%. This places Sri Lanka at rank 120 out of 120 countries.

Subsidies and other transfers (% of expense): Sri Lanka dedicates 34.36% of its expense to subsidies and transfers, below the average of 43.29%. This places Sri Lanka at rank 79 out of 121 countries.

Summary

Sri Lanka's macroeconomic indicators reveal a mixed picture. While the country maintains a relatively low expense as a percentage of GDP and allocates a higher proportion than average towards employee compensation, it significantly underspends on goods and services compared to other nations. Sri Lanka's high interest payments as a percentage of expenses, exceeding the average by a large margin, indicate a potential strain on the country's financial resources. Furthermore, the low allocation towards subsidies and transfers may impact social welfare programs. These indicators provide insights into Sri Lanka's economic priorities, financial management, and potential areas for improvement.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Rural population (% of total population) 8/190
Armed forces personnel (% of total labor force) 11/164
Textiles and clothing (% of value added in manufacturing) 2/93
ICT service exports (% of service exports, BoP) 11/166
Taxes on international trade (% of revenue) 3/101
Customs and other import duties (% of tax revenue) 5/99
Interest payments (% of expense) 1/121

Ranks in Bottom Decile For:

Attribute Rank/Total
Urban population (% of total population) 187/194
Researchers in R&D (per million people) 69/72
Machinery and transport equipment (% of value added in manufacturing) 87/93
Other manufacturing (% of value added in manufacturing) 90/94
Portfolio investment, bonds (PPG + PNG) (NFL, current US$) 55/59
Communications, computer, etc. (% of service imports, BoP) 155/169
Total reserves (% of total external debt) 97/102
Revenue, excluding grants (% of GDP) 118/122
Tax revenue (% of GDP) 118/123
Other expense (% of expense) 120/120