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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 a 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]
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The annual per capita consumption of sugar in Sri Lanka is around 30 kg (66 lb) and the total annual requirement of sugar in the country is around 550,000 tons. In 2012, the country only produced 42,940 tons and imported 593,870 tons, [2] with only approximately 7% of the annual requirement produced locally. The balance requirement has to be ...
It is one of the main sources of foreign exchange for Sri Lanka and accounts for 2% of GDP, generating roughly $700 million annually to the economy of Sri Lanka. It employs, directly or indirectly over 1 million people, and in 1995 directly employed 215,338 on tea plantations and estates. Sri Lanka is the world's fourth largest producer of tea.
Lanka Sathosa also known as Sathosa is a wholesale and retail chain located in Sri Lanka. It is considered to be the largest state-owned retail chain in the country and was established in 2005. [ 1 ] Sathosa was incorporated as a state-owned enterprise under Companies Act no 7 of 2007 and it is regulated by the Ministry of Trade, Commerce ...
On 7 March 2023, the rupee gained 0.5% to trade at 250.8 per dollar, registering a 14% increase after the announcement by the IMF that it will finalize a $2.9 billion bailout for Sri Lanka on 20 March and receiving assurances from China that it will assist in the country's debt restructuring efforts.
The per capita consumption of milk and dairy products in Sri Lanka (about 36 kg) is less, compare to other countries in the South Asian region. Since the 1980s Sri Lanka import dry milk powder as their main dairy commodity from Australia and New Zealand up to now.