Economy of Sri Lanka

Sri Lanka has a developing economy, which is based largely on agriculture, services and light industry. The agriculture sector of the country contributes nearly 21 % to its GDP and employs one-third of the work force. The agriculture output is divided between cash crops from plantation, agriculture and food crops from subsistence agriculture. Cash crops which are largely grown own plantations includes tea, rubber, and coconuts. Rice is the principal food crop and the main livelihood for 70 % of rural population of the country.

Manufacturing industries of the country contributes 19% of gross domestic product and employ about 17 % of the workforce. Chief manufacturing products of Sri Lanka’s are textiles, ceramics, petroleum products, vegetables oils, fertilizers and cement. Other sectors which play a key role in the economy of a country are Port construction, telecommunications, offshore insurance and banking. Remittances from Sri Lankans working abroad, mainly in the Middle East, contribute significantly to the economy.