Sri Lanka

Sri Lanka is a developing, lower-middle-income island economy led by services and industry, historically built on agriculture and famous for its Ceylon tea.

The country suffered its worst economic crisis since independence in 2022 — a sovereign default, hyperinflation, and severe shortages of food, fuel, and medicine — and is now pursuing painful IMF-backed reforms toward recovery.

Key Sectors

Key sectors include garments and textiles (the largest manufacturing export), tea, rubber, and spices, tourism, and remittances from Sri Lankans working in the Gulf.