Current Account in Sri Lanka

Sri Lanka Current Account | Economic News & Forecasts

Sri Lanka - Current Account

Although economic growth reached a one-year high in the first quarter, the second quarter will have been dismal owing to the 21 April terrorist bombings. Tourist arrivals fell 71% year-on-year in May and 57% in June, while the service PMI remained in the doldrums in May as all tourism-related sectors suffered. Nevertheless, growth may have bottomed-out in Q2, with the government slashing airline charges on 8 July in a bid to boost tourism. This, along with the reinstatement of the free visa program for 39 countries, a recent interest rate cut by the Central Bank and the extension of the IMF program, may support a modest rebound in Q3. Meanwhile, on 25 June, the government raised USD 2 billion through bond issuance, shoring up much-needed FX reserves.

Sri Lanka - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-     -     -     -     -     

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Sri Lanka Current Account Chart

Sri Lanka Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Sri Lanka (CBS)

Sri Lanka Facts

Exchange Rate175.40.02 %Jul 11

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