Tag Archives: Sri Lanka

According to allcountrylist, Sri Lanka is a small island nation located in the Indian Ocean with a population of around 21 million people and a nominal GDP of $87 billion. The economy of Sri Lanka is dominated by the services sector, which accounts for around 64% of GDP and includes activities such as banking, insurance, real estate and business services, as well as retail and wholesale trade. The manufacturing sector accounts for around 22% of GDP and includes industries such as automotive, textiles, chemicals and pharmaceuticals. The primary sector makes up 14% of GDP and includes activities such as agriculture, forestry and fishing. Agriculture is particularly important to the economy in terms of providing employment opportunities for the majority of the population who are engaged in subsistence farming. Rice production is particularly significant in Sri Lanka, accounting for around 20% of total export earnings. The government has put in place several initiatives to promote economic growth in Sri Lanka such as encouraging foreign investment through tax incentives & grants as well as investing in infrastructure projects such as roads & ports. Additionally, they are also members of several regional trade agreements including South Asian Free Trade Agreement (SAFTA) which provides preferential access to markets in South Asian countries for certain goods originating from eligible countries including Sri Lanka. They are also members of several international organisations such as WTO which promotes free trade between member countries worldwide thereby increasing access to markets outside its own borders. The agricultural history of Sri Lanka dates back to ancient times, when it was an important trading port between the East and West. The island is home to a diverse range of crops and animals, which have been cultivated for centuries. As a result of its strategic location, Sri Lanka has long been able to access new plants and animals from different parts of the world. In the early days, most crops grown in Sri Lanka were subsistence crops such as rice, millet, sorghum, pulses and vegetables. In addition to this, there was also a thriving spice trade with many different varieties of spices being exported from the island including nutmeg, pepper and cinnamon. Animal husbandry practices were also established in order to produce meat and dairy products. Throughout its history, Sri Lanka has experienced periods of great prosperity as well as periods of decline due to political instability or foreign invasions. Despite this, agriculture has remained an integral part of the country’s economy with over 60% of its population relying on it for their livelihoods. During British colonial rule (1815-1948), significant changes were made to the agricultural sector in order to boost production levels and increase exports. This included introducing new crop varieties such as tea and rubber which quickly became highly profitable commodities for export markets. In addition to this, mechanisation was introduced in order to make farm work easier while improving yields at the same time. In more recent years there have been efforts made by both government institutions and private sector companies in order to improve agricultural productivity by investing in research and development as well as infrastructure projects such as irrigation systems or access roads which can help farmers get their produce to markets faster. Additionally, various subsidies are also provided by the government in order encourage farmers to adopt sustainable farming practices such as using organic fertilisers or shifting towards agroforestry systems which help conserve soil fertility while providing additional income sources through timber production or bee keeping activities. Overall, Sri Lankan agriculture has come a long way since ancient times with many advances being made over the centuries that have enabled farmers across the country to produce higher yields while reducing costs associated with production at the same time. With continued investment in research and development coupled with improved infrastructure projects there is potential for further improvements that could help secure Sri Lanka’s position as one of Asia’s leading agricultural producers for years to come. See collegesanduniversitiesinusa for Sri Lanka Education and Training.