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Sri Lanka

Whether you are looking for investing in Sri Lanka companies or establishing the first contact with our business partners on this beautiful island, we have prepared for you tons of information about doing business in Sri Lanka, their culture and investment opportunities. Same goes the other way around if you are a company from Sri Lanka with the right product or services and you would like to enter the central European market, contact the Indian Chamber of Commerce first. We are partnering with the best companies and consultants in Slovakia, India and Sri Lanka. See below Sri Lanka sectors to get a better overview what they need.

Sectors in Sri Lanka

Service Sector

Contributing to more than 60 percent of Sri Lanka’s GDP as of 2016, the services sector is by far the largest generating source of the country’s production. According to the Central Bank of Sri Lanka, the wholesale and retail trade took the largest slice of the services sector, with more than 20 percent of all Services sector’s contributions coming through this trade.

Nevertheless, coming at second place was the Transport and Communication segment, which combined contributed to more than 14 percent of the outcome of the Services industry.

At third place was the country’s fast growing tourism industry, which accounted for roughly around 10 percent of the service industry’s total outcome.

Finally, the banking sector, insurance as well as real estate were at a respectable fourth place and contributed roughly 9 percent to the service industry’s output.

Industrial Sector

Contributing to more than 30 percent of Sri Lanka’s entire economic output was the industrial sector, which has seen some surprising growth for the past five years.

As stated by the Central Bank of Sri Lanka, the largest proportion of the industrial sector was comprised of manufacturing businesses, which accounted for more than 17 percent of the segment’s entire output.

Apart from that, the construction industry also had a notable footprint in the industrial sector, with roughly 10 percent of the segment’s revenue funneling through the growth of the construction industry.

Agricultural Sector

Agriculture has always been one of the main Sri Lanka’s economy’s contributors due to being the main livelihood of the majority of the population (2.6 million of the labour force of the country). However, the agricultural sector was the least contributing subdivision of the Sri Lankan economy, with less than 8.5 percent contribution as of 2017. This sector was also the only major segment that saw a gradual decline of its total share of contribution (showing a -2.5% contraction) for the past 10 years.

The Fisheries industry was the largest contributor to this segment with more than 1.4 percent of its total output. The tea exports were at second place at one percent, while rice cultivation was at third with a 0.8 percent contribution.

Capital City Colombo
Even though agriculture used to be the dominant contributor to Sri Lanka’s economy, by now it is evident that the country’s output is more driven by the service sector. This sector should be further advanced due to increasing internet penetration (32%) as well as the on-going investments towards infrastructure such as the Colombo Port City and Western Region Megapolis. The latter also means that there will be more output through the industrial sector itself. Additionally, Sri Lanka, particularly Colombo, is offering highly skilled and educated specialists (especially in IT sector)

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