Sri Lanka has quickly emerged from decades of devastating war into an age of rapid economic growth and social improvement. Expansion has been driven largely by investments in infrastructure, particularly in rebuilding structures that were damaged during the conflict. The services sector has also catalysed growth, contributing to 57% of GDP, according to the World Bank. With the government looking to boost exports, tea and textiles have been the top products within Sri Lanka’s strengthening agriculture and manufacturing sectors.

In order to reach its goals of sustainable and inclusive development, the government is focusing on enriching the local talent base, increasing the number of women in the workforce, tackling corruption and boosting collaborative efforts between the public and private sectors. Improving education and developing the technical skills of Sri Lankans will ensure human capital needs are met as the economy becomes more diversified. The administration of President Maithripala Sirisena has pledged to restructure spending and invite increased private sector participation and foreign direct investment while working to improve and increase trade agreements. With a wealth of potential, and reforms already under way, Sri Lanka is poised for continued growth in 2015 and beyond.

General Information:
  • Population: 21 Million
  • Polymer Consumption: 265,000 tonnes / annum
  • No. of Plastics Processing Units: Around 1000
  • Domestic Manufacture of Raw Materials: None
  • Import of Raw Materials: 100%
  • Domestic Manufacturers of Processing Machines: Nil
  • Projected Growth Rate: 16-25%
  • Increase annual production to 200,000 MT
  • Exports are expected to reach its USD $15 Billion target by 2015.
  • In addition to these economic sectors, overseas employment contributes highly in foreign exchange, 90% of expatriate Sri Lankans reside in the Middle East.
Colombo, the capital city, Colombo's port is one of the world's largest man-made harbors. It is a popular port of call for passenger ships and has become a major cargo transshipment hub. Colombo is known for its gem cutting and ivory carving. Other industries include food and tobacco processing, metal fabrication, engineering, and the manufacture of chemicals, textiles, glass, cement, leather goods, clothing, jewelry, and furniture. An oil refinery is located nearby.