Economy

Economy

Sri Lanka is mainly an agricultural country. The chief crop is rice with which the country is almost self sufficient. Tea, rubber and coconut are also important agricultural crops, with tea being a major foreign exchange earner. In addition, other crops of importance are cocoa and spices such as cinnamon, cardamom, nutmeg, pepper and cloves. Fruit and vegetables, native to both tropical and temperate regions, grow well in Sri Lanka. Sri Lanka is also a major exporter of precious and semi-precious stones. Within the last few years remittances from Sri Lankans employed abroad have contributed a large share towards foreign exchange.

The last three decades have seen tourism emerge as an important industry. There has also been a rapid growth in manufacturing industries which offer a wide range of export goods such as petroleum products, leather goods, ready made garments and electronic equipment.