FINANCIAL CHRONICLE™ - Sri Lanka

The Sri Lanka economy advanced 2.7 percent year-on-year in the third quarter of 2019, up from a revised 1.5 percent in the prior period. The growth was mainly boosted by an increase in services (2.8 percent compared to 1.6 percent in Q2), particularly wholesale and retail trade (2.1 percent vs 1.2 percent) and industrial activities (3.3 percent vs 1.3 percent). On the other hand, agriculture, forestry and fishing output slowed (0.4 percent vs 0.7 percent). Sri Lanka GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2020. Read & Comment

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Sri Lanka's trade deficit increased to USD 784 million in December of 2019 from USD 701 million in the same month of the previous year. Exports dropped 3.2 percent to USD 1,000 million, due to lower shipments of industrial products (-1.8 percent), particularly textiles and garments (-2.1 percent) and rubber products (-4.4 percent); and agricultural products (-9.8 percent), mainly tea (-9.6 percent). On the other hand, exports of mineral products advanced 67.7 percent. Meantime, imports rose 2.9 percent to USD 1,784 million, driven by higher purchases of consumer (9.5 percent) and investment goods (10.5 percent). In contrast, exports of intermediate goods declined 2.7 percent. Considering full 2019, the country’s trade gap narrowed to USD 7.99 billion from USD 10.34 billion in 2018. Read & Comment

Exports from Sri Lank dropped 3.2 percent year-on-year to USD 1,000 million in December of 2019, due to lower shipments of industrial products (-1.8 percent), particularly textiles and garments (-2.1 percent) and rubber products (-4.4 percent); and agricultural products (-9.8 percent), mainly tea (-9.6 percent). On the other hand, exports of mineral products advanced 67.7 percent. Exports in Sri Lanka is expected to be 1210.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Sri Lanka to stand at 1280.00 in 12 months time. In the long-term, the Sri Lanka Exports is projected to trend around 1340.00 USD Million in 2021, according to our econometric models.Read & Comment

The number of tourist arrivals in Sri Lanka plunged 17.7 percent year-on-year to 207,507 in February 2020, after a 6.5 percent drop in the previous month. It was the eleventh consecutive monthly fall in tourist arrivals, and the steepest drop since October last year, following the COVID-19 outbreak. Visitors from Europe became the largest source of tourist to Sri Lanka with 60.1% of total arrivals, while that of Asia Pacific accounted 31.2% of total arrivals. Among major sources of tourist traffic to Sri Lanka, the number of visitors fell the most from the China (-92.5% to 2,096), the UK (-11.4% to 26,348), Germany (-5% to 16,405) and France (-33.9% to 11,430). China has been dropped from the top ten tourist generating market of Sri Lanka for first time since 2012. Considering the first two months of the year, the visitor tumbled 12.2% from the same period 2019. Read & Comment

The Gross Domestic Product per capita in Sri Lanka was last recorded at 3936.50 US dollars in 2018. The GDP per Capita in Sri Lanka is equivalent to 31 percent of the world's average. Sri Lanka GDP per capita - values, historical data and charts - was last updated on March of 2020. GDP per capita in Sri Lanka is expected to reach 4250.00 USD by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka GDP per capita is projected to trend around 4358.00 USD in 2021 and 4497.00 USD in 2022, according to our econometric models.Read & Comment

Imports rose 2.9 percent year-on-year to USD 1,784 million in December of 2019, driven by higher purchases of consumer (9.5 percent) and investment goods (10.5 percent). In contrast, exports of intermediate goods declined 2.7 percent. Sri Lanka Imports - values, historical data and charts - was last updated on March of 2020. Imports in Sri Lanka is expected to be 2050.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Sri Lanka to stand at 1890.00 in 12 months time. In the long-term, the Sri Lanka Imports is projected to trend around 1950.00 USD Million in 2021, according to our econometric models.Read & Comment

Gold Reserves in Sri Lanka decreased to 19.66 Tonnes in the fourth quarter of 2019 from 19.89 Tonnes in the third quarter of 2019. Sri Lanka Gold Reserves - values, historical data and charts - was last updated on March of 2020. Read & Comment