Sri Lanka

Sri Lanka has a multi cultural population with an ambitious development program to regain economic growth and social stability. The per capita income which was estimated at US$ 120 in the early 1950s has now reached US$ 900 showing an annual increase of 11%.

In 2002 the agricultural sector accounted for about 20% of the gross domestic product (GDP) while the services and industrial sectors constituted 54% and 26% respectively. Sri Lanka is currently heavily dependent on the apparel and tea sectors which are both export oriented industries. In 2000 exports amounted to 40% of GDP and imports to 51%.

Human development in Sri Lanka is relatively high compared to other developing countries, and the human development index (HDI) compares well with developed nations.

Country or Group HDI Value
Countries with high human development 0.908
Sri Lanka 0.730
World (average) 0.722
Countries with medium human development 0.691
Developing countries 0.655
South Asia 0.582

Source: UNDP (2003) Human development Report

The welfare economic policies practiced in the country for several decades have established education and healthcare networks that have led to this situation. The literacy rate stands at 91.6% and health indicators are at satisfactory levels. The provision of free education up to the first degree at state universities has resulted in the availability of a large pool of graduates. In recent years the number of ICT graduates produced within the country has more than doubled.