The mixed economy of Sri Lanka was worth 27.60 LKR trillion by gross domestic product (GDP) in 2023 and $318 billion by purchasing power parity (PPP). The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers. This growth was driven by the growth of non-tradable sectors, which the World Bank warned to be both unsustainable and inequitable. Growth has slowed since then. In 2022, Sri Lanka faced a severe economic crisis, characterized by high inflation, and political instability. However, the country stabilized faster than expected in 2023 due to key economic reforms and fiscal discipline. By 2024, Sri Lanka re-entered the path of economic growth, with a renewed focus on sustainable development.
Transport in Sri Lanka is based on its road network, which is centred on the country's commercial capital Colombo. A rail network handles a portion of Sri Lanka's transport needs. There are navigable waterways, harbours and three international airports: in Katunayake, 35 kilometres (22 mi) north of Colombo, in Hambantota, and in Jaffna.
Camellia sinensis is a species of evergreen shrub or small tree in the flowering plant family Theaceae. Its leaves, leaf buds, and stems can be used to produce tea. Common names include tea plant, tea shrub, and tea tree.
Sri Lanka is a popular tourist destination. Tourism is a key industry that attracts international tourists yearly. Foreigners visit Sri Lanka to see nature, wildlife, historical monuments, and indigenous culture. In 2018, tourist arrivals peaked at 2.5 million, who spent a total of US$5.6 billion in the country. However, the COVID-19 pandemic caused tourist numbers to decrease by 92% in 2020. As of 2022, tourist numbers have not rebounded from the pre-crisis high. The government is attempting to attract foreign investment in the country's tourism industry, which began in earnest after the end of the Sri Lankan Civil War in 2009.
Nilgiri tea is a drink made by infusing leaves of Camellia sinensis that is grown and processed in the Nilgiris district in Tamil Nadu, India. The leaves are processed as black tea, though some estates have expanded their product offerings to include leaves suitable for making green, white and oolong teas. It is generally described as being a brisk, fragrant and full-bodied tea. The region produces both rolled and crush, tear, curl tea and it is predominantly used for blending. Nilgiri tea is also used for making iced tea and instant tea.
Hatton is a major town in the Nuwara Eliya District of Central Province, Sri Lanka governed by the Hatton-Dickoya Urban Council. Hatton is a major centre of the Sri Lankan tea industry.
Ceylon tea is both the brand of tea which is produced in Sri Lanka and a historic term describing tea from that land. Ceylon tea has been described as not only a geographical descriptor but also a pillar of Sri Lankan culture, heritage, and identity. The Sri Lanka Tea Board is the legal proprietor of the Lion Logo of Ceylon tea. In 2019, Sri Lanka was the fourth largest tea producer and the third largest tea exporter in the world. The Lion Logo has been registered in 98 countries as of 2016. Ceylon tea increasingly faces rising production costs, mainly due to increasing wages, fuel prices, and utility costs.
Indian Tamils of Sri Lanka are Tamil people of Indian origin in Sri Lanka. They are also known as Malayaga Tamilar, Hill Country Tamils, Up-Country Tamils or simply Indian Tamils. They predominantly descend from workers sent during the British Raj from Southern India to Sri Lanka in the 19th and 20th centuries to work in coffee, tea and rubber plantations. Some also migrated on their own as merchants and as other service providers. These Tamil speakers mostly live in the central highlands, also known as the Malayakam or Hill Country, yet others are also found in major urban areas and in the Northern Province. Although they are all termed as Tamils today, some have Telugu and Malayalee origins as well as diverse South Indian caste origins. They are instrumental in the plantation sector economy of Sri Lanka. In general, socio-economically their standard of living is below that of the national average and they are described as one of the poorest and most neglected groups in Sri Lanka. In 1964 a large percentage were repatriated to India, but left a considerable number as stateless people. By the 1990s most of these had been given Sri Lankan citizenship. Most are Hindus with a minority of Christians and Muslims amongst them. There are also a small minority followers of Buddhism among them. Politically they are supportive of trade union-based political parties that have supported most of the ruling coalitions since the 1980s.
Dilmah Ceylon Tea Company PLC, trading as Dilmah, is a Sri Lankan beverage company that is headquartered in Peliyagoda, Western Province, Sri Lanka. While MJF Teas is the parent company of Dilmah, MJF Holdings is the ultimate parent. The company is best known for its brand of Ceylon tea, sold internationally. The company was founded in 1985 by Merrill J Fernando. As of 2023 Dilmah is the 10th largest tea brand in the world.
The primary form of agriculture in Sri Lanka is rice production. Rice is cultivated during Maha and Yala seasons. Tea is cultivated in the central highlands and is a major source of foreign exchange. Vegetables, fruits and oilseed crops are also cultivated in the country. There are two Agriculture Parks abbreviated as A. Parks established by the Department of Agriculture. Out of the total population in Sri Lanka, 27.1% engages in agricultural activities. Agriculture accounted for 7.4% of the GDP in 2020.
Ceylon was an independent country in the Commonwealth of Nations from 1948 to 1972, that shared a monarch with other dominions of the Commonwealth. In 1948, the British Colony of Ceylon was granted independence as Ceylon. In 1972, the country became a republic within the Commonwealth, and its name was changed to Sri Lanka.
Russia–Sri Lanka relations are the bilateral relations between Russia and Sri Lanka.
Hayleys PLC, founded in 1878 by Charles Pickering Hayley, is a multinational and diversified conglomerate company in Sri Lanka, publicly listed on the Colombo Stock Exchange with business spanning over 16 sectors, catering to 80 markets worldwide. Hayleys accounts for approximately 5% of Sri Lanka's export income, and 4.6% of the country's tea and 4.1% of its rubber production. With over 36,000 employees, Hayley was also the first listed entity in the country to surpass annual revenue of US$1 billion in Fiscal Year 2017/18. The company operates over 16 business sectors: eco-solutions, hand protection, purification, agriculture, consumer and retail, leisure, textile manufacturing, construction materials, plantations, industrial solutions, power and energy, transportation and logistics, BPO, tea exports, projects and engineering, and investments and services. Hayleys comprises over 180 business units and subsidiaries, twelve of which are publicly listed on the Colombo Stock Exchange. Hayleys PLC is a public listed company with over 15,147 shareholders as of March 31, 2024. In addition to Sri Lanka, Hayleys today has manufacturing facilities in Indonesia,Thailand and India, with marketing operations in Australia, India, Bangladesh, Italy, Japan, Netherlands, UK, USA, France, Poland and Kenya, and its products are sold in 80 countries.
Lion Brewery or Lion Brewery (Ceylon) PLC is a predominantly Sri Lankan owned and operated brewery. The company is listed on the Colombo Stock Exchange and its stock is part of the S&P Sri Lanka 20 Index. Lion Brewery produces the highest selling beer, Lion Lager, in both Sri Lanka and the Maldives.
George Steuart Group of Companies is Sri Lanka's oldest mercantile establishment, having been established in 1835 during British occupation of Ceylon. It is the oldest surviving mercantile firm in the country, with a recorded history dating back to the early 19th century, and is the first on the register of companies in Sri Lanka
Coffee production in Sri Lanka peaked in 1870, with over 111,400 hectares being cultivated. The Dutch had experimented with coffee cultivation in the 18th century. Still, it was not successful until the British began large-scale commercial production following the Colebrooke–Cameron Commission reforms of 1833. By 1860, the country was amongst the major coffee-producing nations in the world. Although coffee production remains a source of revenue, it is no longer a main economic sector. In 2014, the country ranked 43rd of largest coffee producers in the world.
Donald Jasen Ranaweera was a Sri Lankan plantation owner, press baron and politician. He was the Chairmen of the Times of Ceylon and served as the member of parliament from Maskeliya (1960) and Nuwara Eliya (1965-1970).
Nestlé Lanka (previously known as Nestlé Ceylon Company) and Nestlé Sri Lanka is a subsidiary of Nestlé, a Swiss based company. Nestlé's products include baby food, medical food, bottled water, breakfast cereals, coffee and tea. The company was founded by the Anglo-Swiss Condensed Milk Company in 1906 and incorporated under Nestlé Ceylon Company. Nestlé Lanka is Sri Lanka's largest food company by revenue, with Rs 36.355 billion in 2019. The whole company is controlled by the Nestlé Switzerland parent company. Nestlé S.A. owns over 90 per cent total shares. Nestlé Lanka PLC became the seventh most valuable brand in Sri Lanka worth approximately Rs 21 billion in 2017.
Sunshine Holdings PLC is a Sri Lankan conglomerate holding company that is engaged in the healthcare, consumer goods and agribusiness sectors. Sunshine Holdings was incorporated on 16 June 1973, and listed on the Colombo Stock Exchange in 1983. Sunshine Holdings ranked 45th in LMD 100, a list of quoted companies in Sri Lanka by revenue in the 2020/21 edition.
