Country Profile

Sri Lanka is an island ocean, which is situated at 31 kilometers from the southern coast of India. The country is officially termed as the 'Democratic Socialist Republic of Sri Lanka'. The nation is vested on total 65,610 sq km of area, in which land occupies 64,740 sq km area and water has total 870 sq km area. The country is home to around 21,128773 people. The constitution of Sri Lanka has framed democratic, socialist type of government. Under this political framework, the president is recognized as the head of state, the commander in chief of the armed forces and head of government. He holds office for six years. The president is deemed to be directly responsible to the Sri Lankan parliament. The Sri Lanka has adopted more statics economic outlook for eradicating poverty by diverting investment towards under privileged areas. Small and medium enterprises have been developed and government is encouraging agriculture and allied activities. The country's GDP stands around $83.21 billion. The GDP rate is noted down at around 6%. The agricultural sector has contributed 16.3%, industry sector 27% and highest sharing proportion is done by service which marks to 56.6%. The country's industrial growth is recorded at around 6.4%. By the exporting of textiles & apparels, tea & spices, diamonds, emeralds, rubies, coconut products, fish etc, Sri Lanka records total export around $8.357 billion. Sri Lanka shares good exporting relationships with US, UK, India, Belgium and Germany.

Snapshot

Economic Overview

• GDP is rising at a steady growth rate of 5%.
• World's biggest producer of cinnamon.
• World's largest exporter of black tea.
• The country is 8th largest exporter of rubber.
• Sri Lanka is largest producer of pale and brown crepe rubber.
• Sri Lank is recognized as second largest exporter of dessicated coconut.
• World's eminent player in industrial solid tyres, supplying around 30% in global market.
• In recent decades people are driving away from agriculture sector to other areas.
• The export of textile, apparels and leather products has reached to its maximum.
• The tourism sector is showing a significant contribution in nation's foreign exchequer reserves

International Trade
Major Export Items
Textiles, Tea, Spices, Diamonds, Emeralds, Rubies, Coconut Products, Rubber Manufacturers, Fish

Main Destinations of Exports
United States, United Kingdom, India, Germany

Major Import Items
Textile, Mineral Products, Petroleum, Foodstuffs, Machinery, Transportation Equipment

Main Origins of Imports
India, Singapore, Hong Kong, China, Japan, Iran, Malaysia

Contacts of Trade Ministries/ Associations

Business Visa Rules

• Valid for one or more year with multiple entries.
• A letter from sponsoring organization indicating nature of business, probable duration of stay, places and organizations to be visited incorporating there in a guarantee to meet maintenance expenses, etc. should accompany the application.
• The duration of stay in India is only for a period of 6 months even though a valid visa may be for more than 6 months.
• Visa is given for a period for which passport is valid.

Business Hours
Offices:   Monday to Friday from 08.30 - 17:30
Banks:    Monday to Friday from 08.30 - 15:00

Public Holidays