Flag description: yellow with two panels; the smaller hoist-side panel has two equal vertical bands of green (hoist side) and orange; the other panel is a large dark red rectangle with a yellow lion holding a sword, and there is a yellow bo leaf in each corner; the yellow field appears as a border around the entire flag and extends between the two panels
Economy Sri Lanka
Economy - overview: In 1977, Colombo abandoned statist economic policies and its import substitution trade policy for market-oriented policies and export-oriented trade. Sri Lanka's most dynamic sectors now are food processing, textiles and apparel, food and beverages, telecommunications, and insurance and banking. By 1996 plantation crops made up only 20% of exports (compared with 93% in 1970), while textiles and garments accounted for 63%. GDP grew at an average annual rate of 5.5% throughout the 1990s until a drought and a deteriorating security situation lowered growth to 3.8% in 1996. The economy rebounded in 1997-2000 with average growth of 5.3%. But 2001 saw the first contraction in the country's history, due to a combination of power shortages, severe budgetary problems, the global slowdown, and continuing civil strife.
GDP: purchasing power parity - $62.7 billion (2001 est.)
GDP - real growth rate: -1% (2001 est.)
GDP - per capita: purchasing power parity - $3,250 (2001 est.)
GDP - composition by sector: agriculture: 21% industry: 27% services: 52% (2000)
Population below poverty line: 22% (1997 est.)
Household income or consumption by percentage share: lowest 10%: 3.5% highest 10%: 28% (1995)
Distribution of family income - Gini index: 34.4 (1995)