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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%. [42] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [43]
In the early 1850s, the country had just become self-reliant in respect to sugar production but by the 1860s the industry was virtually non-existent. Pelwatte Sugar Industries Sri Lanka leading sugar production factory. 90,000 metric tonnes imported in mid-year 2020. [4] Data related to sugar production during the present decade is given in the ...
Sri Lanka is the largest producer of coconut arrack in the world. 50 million liters in 2020. Distilleries major arrack production company in Sri Lanka. [ 10] Due to its concentrated sugar and yeast content, the captured liquid naturally and immediately ferments into a mildly alcoholic drink called "toddy", tuak, or occasionally "palm wine".
According to the International Monetary Fund, Sri Lanka's GDP in terms of purchasing power parity is second only to the Maldives in the South Asian region in terms of per capita income. As of 2010 [update] , the service sector makes up 60% of GDP, the industrial sector 28%, and the agriculture sector 12%. [ 1 ]
Richard Pieris and Company ( ARPICO) established in 1940 it is one of Sri Lanka's largest conglomerates with interests in manufacturing, engineering, retail and plantation industries. It is a pioneer in the tyre, plantation and rubber industries of Sri Lanka. With a staff strength of more than 25,000, the company's major brands include Arpitec ...
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 ...
Over the last few decades, the apparel industry grew to represent Sri Lanka's number one export. Following a 38% increase in textile-based revenue from 1996 to 1997, in which the industry generated $2.18 billion in earnings, 50 new textile factories opened in Sri Lanka in 1998. [ 10] As of 1998, the Sri Lanka apparel industry employed about ...
Sri Lanka is the world's fourth-largest producer of tea. In 1995, it was the world's leading exporter of tea (rather than producer), with 23% of the total world export, and Sri Lanka ranked second on tea export earnings in 2020 [ 2] after China. The highest production of 340 million kg was recorded in 2013, while the production in 2014 was ...