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In 2015 alone, Sri Lanka’s spice exports amounted to USD 377 million, up from USD 264 million the previous year. Sri Lanka’s most famous export, cinnamon is the island’s premier spice export. Industry insiders classify the spice into two forms, Ceylon cinnamon (Cinnamomum Zeylanicum), and Cassia Cinnamon. Ceylon cinnamon is the costlier ...
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]
The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Hence, a very small proportion of the farmland is solely devoted to livestock production. In Sri Lanka, livestock sector contributes around 1.2% of the national GDP. Livestock is spread throughout all regions of Sri Lanka with concentrations of certain farming systems in particular areas due to cultural, market and agro-climatic reasons.
In 2022, Sri Lanka faced a severe economic crisis, characterized by high inflation, and political instability. [148] However, the country stabilized faster than expected in 2023 due to key economic reforms and fiscal discipline. By 2024, Sri Lanka re-entered the path of economic growth, with a renewed focus on sustainable development. [149]
The Department of Agriculture (DOA) functions under the Ministry of Agriculture of Government of Sri Lanka is one of the largest government departments with a high profile community of agricultural scientists and a network of institutions covering different agro ecological regions island wide. DOA focuses on maintaining and increasing ...
Sri Lankans have elected Anura Kumara Dissanayake as the country's new president, giving the Marxist-leaning politician a key role in deciding the future of reforms in the debt-ridden nation that ...
Location of Sri Lanka. Environmental issues in Sri Lanka include large-scale logging of forests and degradation of mangroves, coral reefs and soil. Air pollution and water pollution are challenges for Sri Lanka since both cause negative health impacts. Overfishing and insufficient waste management, especially in rural areas, leads to ...