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Economic Status Of Sri Lanka

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By Author: Deepak pant
Total Articles: 25
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The World Bank, in its 2019 country classification release, has elevated Sri Lanka from a lower middle-income country to an upper-middle-income country. The World Bank uses GNI per capita and not the more popularly known Gross Domestic Product or GDP per capita for classifying countries into different stages of economic advancement. That is because GNI includes all the incomes earned by peoples of a country irrespective of whether they are resident in that particular country or not. In contrast, GDP measures the incomes earned by all within the territory of a country irrespective of whether they are citizens or not. Hence, GNI pertains to the people of a country and therefore is a better indicator of the wellbeing of such people. For international comparison, the World Bank converts GNI per capita measured in the local currency into US dollars by using an average exchange rate.

The Sri Lanka import and export data provide you the real picture of sri Lankan market which helps you to plan your trade perspective and alignment with the country. The implementation of Srilanka custom import database will help you to accomplish the statically survey and analysis of trade business. We deliver to you a more extensive perspective of the merchandising system of Sri Lanka. The import and export data prepared can help you are to reach more potential traders and also help to get more information on product, quantity, buyer, and supplier.

The data is provided on the basis of 8-digit HS Code for a month, quarter, half-year or year leisurely from Sri Lanka import database and other shipping companies. The database contains all the trade activities and shipment from all the ports like air, sea, and icd. Sri Lankan import data analysis will help you to anticipate the highs and lows of business and the reports are accurate and pinpoint for further research and development.

The country stands on 70th position in the world economy. The data will help to track every minor happening in the country also help to bloom your business effortlessly.

Sri Lankan import data will help to get more business opportunities which the country demands an examination of purchase and merchant, on the other hand, Sri Lanka export data help to identify the hidden gems of provider and export. Our research analysts put their all efforts to provide the best output from the data.

During 1997-2018, Sri Lanka's economy had grown on average at about 5% per annum in real terms. This growth rate is not sufficient to push the income levels of people to the minimum needed to cross the threshold of the upper-middle-income category within 22 years. However, there have been increases in price levels at about 13% per annum on average boosting people's rupee incomes. To consider such increases in money incomes as a real improvement of people's wellbeing is an illusion. Hence, the illusive effect of price increases should be corrected by allowing the exchange rate against the US dollar to fall in the market.

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