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Statistics
• GDP: US$27.4 billion (2006).
• Main imports: Textile fabrics, mineral products, petroleum, food, machinery and transportation equipment. • Main exports: Textiles and clothing, tea, spices, precious stones and coconut products. • Main trade partners: India, USA, UK, China (PR) and Singapore. Economy
Although some parts of the economy have suffered severe dislocation as a result of the tsunami and civil war, especially the tourist industry, it has performed reasonably well over recent years. This was reflected in the GDP growth rate of 7.4% in 2006. Unemployment was also estimated to be 7.6% in 2006, but inflation reached 13.7%.
Agriculture (including tea, rubber, coconuts) sustains about one-third of the working population and contributes around a fifth of GDP. Forestry and fishing are also important. The main industrial sectors are mining (gemstones and graphite particularly), and manufacturing (especially cement and textiles). Hydroelectricity is the main source of power, supplemented by imported oil. In the service sector, tourism has been stunted by the civil war, but banking and insurance have both been performing well. The government is now consolidating its progress with market-oriented policies by implementing further deregulation, fiscal reform and privatisation. Business Etiquette
Businesswear is casual. English is widely spoken in business circles. Appointments are necessary and it is considered polite to arrive punctually. It is usual to exchange business cards on first introduction.
Office hours: Mon-Fri 0900-1700. Business Contacts
National Chamber of Commerce of Sri Lanka
450 DR Wijewardena Mawatha, Colombo 10, Sri Lanka Tel: (5) 874 801. Website: www.nccsl.lk Ceylon Chamber of Commerce 50 Navam Mawatha, Colombo 2, Sri Lanka Tel: (11) 242 1745 or 232 9143. Website: www.chamber.lk Sri Lanka Convention Bureau Hotel School Building, 4th Floor, 80 Galle Road, Colombo 3, Sri Lanka Tel: (11) 486 5050 or 244 0002. Website: www.visitsrilanka.net |
