Overview: In 2018 Sri Lanka was the number 64 economy in the world in terms of GDP (current US$), the number 84 in total exports, the number 80 in total imports, and the number 97 most complex economy according to the Economic Complexity Index (ECI). In 2018, Sri Lanka exported $11.1B and imported $18.7B, resulting in a negative trade balance of -$7.57B. In 2018, Sri Lanka's exports per capita were $514 and its imports per capita were $863.
In 2018 Sri Lanka exported a total of $11.1B, making it the number 84 exporter in the world. During the last five reported years the exports of Sri Lanka have changed by $150M from $11B in 2013 to $11.1B in 2018.
In 2018 Sri Lanka imported $18.7B, making it the number 80 trade destination in the world. During the last five reported years the imports of Sri Lanka changed by -$142M from $18.9B in 2013 to $18.7B in 2018.
In 2018, Sri Lanka exported $8.37B worth of services. The top services exported by Sri Lanka in 2018 were Personal travel ($4.38B), Transportation ($2.49B), Computer and information services ($995M), Financial services ($242M), and Insurance services ($130M).
The top services imported by Sri Lanka in 2018 were Transportation ($1.74B), Personal travel ($1.66B), Computer and information services ($484M), Financial services ($447M), and Insurance services ($97.4M).
This section shows forecasts for total product exports and imports for Sri Lanka. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Sri Lanka are:136: Most Favoured Nation duty rate treatement156: Preferential tariff for (SAARC) South Asian Association for Regional Cooperation countries168: Preferential tariff for Bangladesh239: Preferential tariff for India284: Preferential tariff for Pakistan299: Preferential tariff for Singapore336: Preferential tariff under (GSTP) Global System of Trade Preferences among Developing Countries343: Preferential trade agreement (APTA) Asia-Pacific Trade Agreement or (Previously named:Bangkok Agreement)344: Preferential trade agreement (APTA) LDCs countries366: South Asian Association for Regional Cooperation (SAARC) Preferential Trading Arragement (SAPTA)367: South Asian Association for Regional Cooperation (SAARC) Preferential Trading Arragement (SAPTA) for The least developed nations in South Asia
During the last 20 years Sri Lanka's economy has become relatively less complex, moving from the 88th to the 97th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
The top export opportunities for Sri Lanka according to the relatedness index, are Cotton Waste (0.27), Fake Hair (0.26), Insect Resins (0.25), Processed Fish (0.25), and House Linens (0.25). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Sri Lanka is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Sri Lanka
