Economy of Sri Lanka
| Statistics | |
|---|---|
| Exports | $12.8 billion (2020) |
| Export goods | textiles and apparel, tea and spices, electronics, IT services, rubber manufactures, fish, precious stones |
| Main export partners | USA 25.29% UK 9.18% India 6.09% Germany 5.75% Italy 5.35% (2020) |
| Imports | $15.584 billion (2020) |
Contents
What are the major imports of Sri Lanka?
Sri Lanka imports petroleum, textile fabrics, foodstuffs, and machinery and transportation equipment. The country’s main import partners are India, China, Iran and Singapore.
What does Sri Lanka import?
Sri Lanka imports a variety of agricultural products and food including wheat, lentils, sugar, fruit, milk, and milk products. The importation of food and beverages account for 7.2 percent of total imports in 2018. Sri Lanka is emerging as an important market for international business and tourism.
What are the major exports of Sri Lanka?
Sri Lanka exports mostly textiles and garments (52% of total exports) and tea (17%). Others include: spices, gems, coconut products, rubber and fish. Main export partners are United States, United Kingdom, Germany, Belgium and Italy.
Where does Sri Lanka export to?
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| Sri Lanka Exports By Country | Value | Year |
|---|---|---|
| China | $252.00M | 2020 |
| Canada | $226.35M | 2020 |
| Turkey | $224.93M | 2020 |
| United Arab Emirates | $214.91M | 2020 |
What can we export from Sri Lanka?
Key export categories
- Apparel & Textiles.
- Boat and Ship Building.
- Ceylon Tea.
- Coconut & Coconut based Products.
- Diamonds, Gems & Jewellery.
- Food, Feed & Beverages.
- Rubber & Rubber Based Products.
- Spices, Essential Oils & Oleoresins.
What is export goods?
Exports are goods and services that are produced in one country and sold to buyers in another. Exports, along with imports, make up international trade.
What does Sri Lanka import from India?
| Sri Lanka Imports from India | Value | Year |
|---|---|---|
| Sugars and sugar confectionery | $223.65M | 2020 |
| Cotton | $222.40M | 2020 |
| Mineral fuels, oils, distillation products | $220.91M | 2020 |
| Iron and steel | $212.42M | 2020 |
What is the best export product in Sri Lanka?
At the more detailed 4-digit Harmonized Tariff System (HTS) code level, Sri Lanka’s number 1 export is tea. The top 3 exported goods (tea, unknitted and non-crocheted brassieres and corsets, and knitted or crocheted women’s underwear and pajamas) represent 21.7% of the overall value of goods shipped from Sri Lanka.
What are the products made in Sri Lanka?
- Ceylon Tea. Tea.
- Rubber & Rubber Based Products. Rubber & Rubber Based Products.
- Coconut & Coconut based Products. Coconut & Coconut based Products.
- Apparel & Textiles. Apparel & Textiles.
- Spices, Essential Oils & Oleoresins.
- Food, Feed & Beverages.
- Diamonds, Gems & Jewellery.
- Boat and Ship Building.
What is produced in Sri Lanka?
The primary form of agriculture in Sri Lanka is rice production. Rice is cultivated during Maha and Yala seasons. Tea is cultivated in the central highlands and is a major source of foreign exchange. Vegetables, fruits and oilseed crops are also cultivated in the country.
What are the famous products in Sri Lanka?
Sri Lanka is a tea haven with its rolling tea plantations and tea factories nestled in the higher altitudes of the country. Mainly known for its signature Black Tea, Sri Lanka also offers a variety of others like Silver, Earl Grey, White, and Green Teas.
What does Sri Lanka Export to India?
| Sri Lanka Exports to India | Value | Year |
|---|---|---|
| Residues, wastes of food industry, animal fodder | $93.27M | 2020 |
| Mineral fuels, oils, distillation products | $68.88M | 2020 |
| Coffee, tea, mate and spices | $64.28M | 2020 |
| Edible fruits, nuts, peel of citrus fruit, melons | $61.47M | 2020 |
What are exports and imports?
Imports are any good or service brought in from one country to another, while exports are goods and services produced in the home country for sale to other markets.
What do you mean by imports?
An import is a good or service bought in one country that was produced in another. Imports and exports are the components of international trade. If the value of a country’s imports exceeds the value of its exports, the country has a negative balance of trade, also known as a trade deficit.
What are examples of imports and exports?
What are the U.S. Imports and Exports?
- Machinery (including computers and hardware) – $213.1 billion.
- Minerals, fuels, and oil – $189.9 billion.
- Electrical machinery and equipment – $176.1 billion.
- Aircraft and spacecraft – $139.1 billion.
- Vehicles and automobiles – $130.6 billion.
What does Sri Lanka import from China?
Sri Lanka Imports from China. Value. Year. Electrical, electronic equipment. $691.24M.
Does Sri Lanka import petrol from India?
In 2017, the top partner countries from which Sri Lanka Imports Fuels include United Arab Emirates, Singapore, India, South Africa and Maldives.
Who does Sri Lanka trade with?
Sri Lanka top 5 Export and Import partners
| Market | Trade (US$ Mil) | Partner share(%) |
|---|---|---|
| United States | 2,920 | 24.87 |
| United Kingdom | 1,043 | 8.88 |
| India | 790 | 6.72 |
| Germany | 547 | 4.66 |
Does Sri Lanka Export Rice?
In 2018, rice exports for Sri Lanka was 4,225 thousand US dollars. Though Sri Lanka rice exports fluctuated substantially in recent years, it tended to increase through 1969 – 2018 period ending at 4,225 thousand US dollars in 2018.
What food does Sri Lanka Export?
The traditional agricultural exports of Sri Lanka are tea, rubber, coconut and spices.
