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Export Market

Sri Lanka

ISO: LK / LKA

Country Profile

Capital Sri Jayawardenepura Kotte
Population 21.8M
GDP $99.0B (2024)
GDP per Capita $4,516
Income Level Lower-Middle Income
Currency Sri Lankan rupee (LKR Rs රු)
Language Sinhala
Timezone UTC+05:30
Region Asia · Southern Asia

Trade Partners

Sri Lanka Exports To

  • USA 22.0%
  • India 7.0%
  • Germany 7.0%
  • UK 7.0%
  • Italy 5.0%

Key exports: garments, tea, precious stones, used rubber tires, rubber products (2023)

Sri Lanka Imports From

  • India 21.0%
  • China 19.0%
  • UAE 10.0%
  • Singapore 5.0%
  • Malaysia 4.0%

Key imports: refined petroleum, fabric, crude petroleum, packaged medicine, cotton fabric (2023)

Economic Overview

economic contraction in 2022-23 marked by increased poverty and significant inflation; IMF two-year debt relief program following 2022 sovereign default; structural challenges from non-diversified economy and rigid labor laws; heavy dependence on tourism receipts and remittances

Government: presidential republic

UK Trade Status

No FTA

There is currently no free trade agreement between the UK and Sri Lanka. Standard WTO terms apply.

Trade Barriers

4 active barriers affecting UK exporters

Restrictions on outward investment by Sri Lanka due to COVID-19

Sri Lanka has placed indefinite restriction on overseas investment until their current account balance recovers post COVID-19. This restriction is mainly for local investors and is not imposed on foreign investors. The latter are free to take out the money …

Sectors: Financial and professional services

Reported: 14 Dec 2020

Sri Lanka imposes import restrictions due to COVID-19

The Government of Sri Lanka has imposed restrictions on the import of high value items such as vehicles and high value consumer goods. These restrictions have been in place since March 2020 as a result of COVID-19 related economic impacts.

Sectors: Agriculture, horticulture, fisheries and pets, Food and drink

Reported: 18 Aug 2020

New tariff on cars exported to Sri Lanka

This affects UK companies exporting cars to Sri Lanka. The Sri Lankan government has changed the tariff on imported cars. In addition to the 'unit rate' scheme, which classifies cars according to engine size, they are now also taxed by …

Sectors: Automotive

Reported: 19 Dec 2019

Higher tariffs for alcohol imported to Sri Lanka from the UK.

This affects UK exporters due to tariffs on alcoholic beverages imported to Sri Lanka from the UK.

Sectors: Food and drink

Reported: 1 Aug 2019

Geographic Region

South Asia

Trading Bloc Memberships

Sri Lanka is a member of the following trade agreements and economic blocs.

SAFTA South Asia Free Trade Area Free Trade Area SAARC South Asian Association for Regional Cooperation Economic Union

Export Guidance

Relevant guidance for exporting to Sri Lanka.

Start Your Export Journey

Export to the EU after Brexit Start exporting from the UK Manage your export compliance

Also in This Region

🇦🇫 Afghanistan 🇧🇩 Bangladesh 🇧🇹 Bhutan 🇮🇳 India 🇲🇻 Maldives 🇳🇵 Nepal 🇵🇰 Pakistan

Official Resources

Government export support for Sri Lanka.

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