Economy.lk
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Disseminates business & market news, data, analysis and vital information to help businesses be abreast of the latest trends and policies
Sri Lanka
Joined July 2017
Workers’ remittances rise 17.5% Year on Year in January, reaching $573M. Total inflows for 2024 hit $6.57B, up 10.1% from 2023.
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Banking sector deposits reach Rs. 12.3T in 2024, reflecting increased private sector credit flows and strong savings growth, according to the Central Bank of Sri Lanka.
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Sri Lanka's trade deficit grew to $6.07B in 2024, as imports rose 12.1% to $18.84B
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January arrivals soar past 212,838, marking a 21% year-on-year surge! With daily arrivals averaging 8,186, numbers are on track to exceed 253,000-the highest since 2018!
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With a 7.06% year-on-year growth, exports reached a record $16.17B in 2024. December exports saw a 9.21% year-on-year rise, totaling $1.36B, led by apparel, tea, and rubber.
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Tea exports in 2024 rose to 245.7M kg, earning $1.4B with a record FOB of $5.83/kg. Key markets like Iraq and Russia drove demand.
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Apparel exports grew 5% year on year in 2024 to $4.76B, with the exports increases to the USA, EU, and UK. December exports rose 2% year on year to $424M, driven by gains in the EU and other markets.
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Ranked 9th on BBC’s “Best Places to Travel in 2025,” Sri Lanka features its beaches, tea plantations, and wildlife. Nearly 80,000 visitors arrived in January as the country aims for 3 million tourists this year!
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Tourist arrivals hit 2.05M in 2024, up 21% year on year. Poland leads growth, followed by Bangladesh and China, while India remains the top source with 416,974 visitors.
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Central Bank net foreign assets rise to $310M in Nov 2024, up from $63M in Sept. Gross official reserves at $6.4Bn.
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Sri Lanka sees an 81% surge in tourist arrivals in the second week of January, reaching 70,944 visitors! India, Russia, and the UK lead, with daily arrivals peaking over 9,000.
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Vogue names the South Coast of Sri Lanka this winter's hottest travel destination! Rising in global rankings, the region stands out for its pristine beaches, lush tea estates, and rich wildlife, offering the perfect mix of adventure and relaxation.
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Sri Lanka’s Central Bank shows strong growth in foreign reserves, reaching USD 7.8B by January 2025, with a target of USD 9B by mid-year.
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The Sri Lanka Ports Authority Terminals achieved historic growth, handling 2.4 million Twenty-Foot Equivalent Units, a 23% increase. The Port of Colombo reached a record 7.7 million Twenty-Foot Equivalent Units, reinforcing its status as a key global trade hub.
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Sri Lanka kicks off 2025 with 40,000 arrivals in just 5 days! The island sees a 22% surge, led by tourists from Russia, India, and the UK.
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The Colombo Stock Exchange reached a historic milestone as the All Share Price Index (ASPI) surpassed 16,000 points for the first time, closing at 16,348.55, marking a 2.53% increase.
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Tourist arrivals surpass 200,000 this December, marking a strong surge in tourism during the holiday season. With popular destinations reaching full capacity.
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The World Bank Group (WBG) has projected a 4.4% economic growth for Sri Lanka in 2024, highlighting the nation's resilience and effective policy reforms.
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"🇱🇰 The Central Bank of Sri Lanka may consider SRR for foreign currency deposits—a move to strengthen the LKR, boost financial stability, and align with global standards. Learn more - Link:
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Colombo stock market hits a record high as All Share Price Index jumps 170+ points to 13,511.73 with Rs. 5.2Bn turnover. Banking index up 2.07%.
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