Sri Lanka

Discover how Sri Lanka preserves its unique cultural traditions and promotes environmental sustainability on Innovando.News: Sri Lanka, officially the Republic of Sri Lanka, is an island located in the Indian Ocean, southeast of India, with an area of ​​approximately 65.610 km². Its geography varies from tropical beaches to inland mountains, such as the Pidurutalagala mountain. The commercial capital is Colombo, while Sri Jayawardenepura Kotte is the administrative capital. With a population of approximately 22 million (2023), most live in urban areas, particularly in the western provinces. The economy is based on agriculture (tea, spices, coconut), industry and services, with moderate growth but inflationary challenges. The culture is influenced by Buddhism, and the country is famous for its historical heritage, with UNESCO sites such as Sigiriya and Anuradhapura.

Summary data on Sri Lanka

• Total population: Approximately 22 million inhabitants (2023).
• Population growth rateThe population growth rate is very low, around 0,5% per year, with an aging population.
• Capital: Columbo, with a population of about 750.000 inhabitants, but the administrative capital is Sri Jayawardenepura Kotte.
• Main cities: Kandy, Galle, Jaffna, Negombo.
• Countries it borders: India (to the northwest) and the sea (surrounded by the Indian Ocean).
• Nominal GDP: Approximately USD 81 billion (2023).
• Pro-capite GDP: Approximately USD 3.600 (2023).
• GDP growth rate: Around 2,5% per year (2023), with a slow economic recovery after the crisis.
• Inflation: About 8,6% (2023), a rather high figure that reflects economic instability.
• Unemployment rate: About 5,0% (2023), one of the lowest in Asia.
• Trade balanceSri Lanka runs a trade deficit, with imports exceeding exports, particularly in the energy and food sectors.
• Major business partners: India, China, United States, Japan, United Arab Emirates.
• Public debt: About 110% of GDP (2023), with heavy external debt causing economic hardship.
• Public spending on R&D (Research and Development): About 0,1% of GDP, with modest investments in research and innovation.
• Main economic sectors: Agriculture (especially tea, spices and rice), garments, tourism, financial services.
• Currency: Sri Lankan Rupee (LKR), with an exchange rate of approximately 1 USD = 320 LKR (2023).
• Interest rate: Around 13% (2023), with tight monetary policies to control inflation.
• Foreign exchange reserves: Approximately USD 2 billion (2023), sharply decreasing due to economic difficulties.
• Main exports: Tea, clothing, spices, agricultural products, diamonds.
• Main imports: Oil, machinery, food, chemicals.
• Human Development Index (HDI): 0,782 (2021), with Sri Lanka ranked among the countries with a medium level of human development.
• Literacy rate: 92%, with a strong education system that contributes to high adult literacy.
• Life expectancy: Around 79 years (2023), a relatively high life expectancy, thanks to a good healthcare system.
• Position in the Global Innovation Index: Sri Lanka is ranked 86th (2023), with limited growth in technological innovation.
• Corruption Perception IndexSri Lanka is ranked 102nd (2023), with a score of 36/100, indicating a moderate perception of corruption.

Insights into Sri Lanka

1. Country Name

• Official name: Republic of Sri Lanka (Sri Lanka). The official name in the local language is "Sri Lanka," which in Sinhalese means "Shining Island."

2. Geography

• Geographic location: Sri Lanka is an island country located in the Indian Ocean, southeast of India. It is separated from the Asian mainland by the Palk Strait and the Bay of Bengal to the east.
• In total areaSri Lanka has an area of ​​approximately 65.610 km², making it one of the largest island countries in Asia.
• Description of the landscape: The country offers a great variety of landscapes, ranging from tropical beaches along the coasts to montains e colline inland, like those of the Pidurutalagala mountainThe climate is tropical, with a monsoon rainy season, especially in the south-western regions.

3. Population

• Number of inhabitantsThe population of Sri Lanka is approximately 22 million of inhabitants (2023).
• Population growth rateThe population growth rate is low, with a declining birth rate, also influenced by a high level of urbanization.
• Major cities and population distribution: The main cities are Columbo, the commercial capital, and Sri Jayawardenepura Kotte, which is the legislative capital. The population is concentrated in urban areas, with a strong presence in the western provinces.

4. Capital and main cities

• Capital: The capital Columbo It is the main urban area and the economic center of the country, while Sri Jayawardenepura Kotte It is the administrative capital, located near Colombo.
• Other important cities: Kandy, an important religious and cultural centre, Galle, famous for its Portuguese colonial fort, and Jaffna, which has great historical and cultural importance.

5. economy

Nominal GDP and GDP per capita

Sri Lanka has a nominal GDP of approximately 85 billion dollars (2023). GDP per capita is approximately dollars 3.800, a figure that reflects the developing economy.

Main economic sectors

Sri Lanka's economy is heavily dependent on sectors such as:

• AgricultureThe country is one of the main producers of tea, coffee, coconut e spices,, which constitute a significant part of exports.
• Manufacturing and Industry: Sri Lanka has developed a manufacturing sector, with particular emphasis on weaving, provisioning and food industries.
• Services: The service sector, in particular the and software exports e IT technologies, represent areas of economic growth.

GDP growth rate and inflation

In 2023, the country recorded positive economic growth, with GDP increasing by 3,5%. However, inflation is high, reaching around 15% in 2023, due to factors such as political and economic instability.

Unemployment rate and trade balance

The unemployment rate in Sri Lanka is relatively low, around 5%, but there are regional and gender disparities. The trade balance is generally negative, with the country importing more than it exports, especially in the energy and technology sectors.

Public debt

Sri Lanka's public debt is very high and has posed a significant challenge to its economy, with a ratio exceeding 100% of GDP.

Main exports and imports

Major exports include tea, rubies, spices,, fabrics and clothing, while the main imports are fuels, machinery e electronic products.

6. Political system and government

• Type of government: Sri Lanka is a presidential republic, where the President is both head of state and head of government.
• Description of the political structureThe political system is a parliamentary system with a Unicameral ParliamentThe President is directly elected by the citizens, while the Prime Minister is appointed by the President.
• Main political partiesThe main parties are the Sri Lanka People's Liberation Party (SLPP), United Nationalist Party of Sri Lanka (UNP) and Tamil National Alliance (TNA) Party.

7. History and culture

Brief historical overview

Sri Lanka's history dates back to over 2.000 years, with the founding of the first Sinhalese kingdom. The country has seen numerous influences, from Portuguese e Dutch during the colonial period, up to the English, who ruled the country from 1815 to 1948, when Sri Lanka gained independence. In the XNUMXth century, the country was marked by the civil war between the government and the Tamil Tigers (1983-2009).

Cultural and linguistic traditions

Sri Lankan culture is a mix of traditions Sinhalese e tamil, and the official language is Sinhalese, with the tamil as a second official language. The Buddhism It is the predominant religion, and cultural traditions are reflected in events such as the Kandy Perahera and vesak, which celebrate important events in the life of Buddha.

Cultural heritage

Sri Lanka is known for its historical and cultural heritage, with UNESCO sites including Anuradhapura, Polonnaruwa e Sigiriya. These places are examples of ancient civilizations and architecture, including stupa, Buddhist temples e new walls..

8. Innovation and development

Sri Lanka is in a development stage when it comes to technological innovation. TheIT industry is growing, with several technology startups that have made the country a point of reference for the advanced tertiary.

9. Education and health

The education system in Sri Lanka is free and compulsory until 16 years. Local universities offer courses in various fields, with University of Colombo e University of Peradeniya among the most prestigious. The health system is public, with facilities covering the whole country, but there are also private facilities high quality.

10. International rankings

Sri Lanka is located at 71st place in the Human Development Index (HDI) and 89th place in the Corruption Perceptions Index (CPI), indicating a social advancement but also a certain political instability.

11. Environmental policies

Sri Lanka has a environmental policy which promotes the sustainability , conservation of biodiversity, including projects to reduce coal use and promote renewable energy.

12. Curiosity

Sri Lanka is famous for its Ceylon tea, recognized throughout the world. In addition, the country is home to some of the rarest animals, including the Sri Lankan leopard el 'Sri Lankan elephant. The local cuisine is famous for its curry and rice, which are the basis of the national diet.