The document provides information about Sri Lanka, including its currency, interest rates, inflation rates, GDP per capita, culture, and major industries. The Sri Lankan rupee is the currency, and interest rates have risen to over 13.5% recently. Inflation is also high at 18.7%. Culturally, Sri Lanka has a diverse heritage influenced by religions like Buddhism and Hinduism. The top industry is textiles and apparel, with companies like MAS and Hirdaramani Apparel generating billions in annual revenue.
The document provides information about Sri Lanka, including its currency, interest rates, inflation rates, GDP per capita, culture, and major industries. The Sri Lankan rupee is the currency, and interest rates have risen to over 13.5% recently. Inflation is also high at 18.7%. Culturally, Sri Lanka has a diverse heritage influenced by religions like Buddhism and Hinduism. The top industry is textiles and apparel, with companies like MAS and Hirdaramani Apparel generating billions in annual revenue.
The document provides information about Sri Lanka, including its currency, interest rates, inflation rates, GDP per capita, culture, and major industries. The Sri Lankan rupee is the currency, and interest rates have risen to over 13.5% recently. Inflation is also high at 18.7%. Culturally, Sri Lanka has a diverse heritage influenced by religions like Buddhism and Hinduism. The top industry is textiles and apparel, with companies like MAS and Hirdaramani Apparel generating billions in annual revenue.
The document provides information about Sri Lanka, including its currency, interest rates, inflation rates, GDP per capita, culture, and major industries. The Sri Lankan rupee is the currency, and interest rates have risen to over 13.5% recently. Inflation is also high at 18.7%. Culturally, Sri Lanka has a diverse heritage influenced by religions like Buddhism and Hinduism. The top industry is textiles and apparel, with companies like MAS and Hirdaramani Apparel generating billions in annual revenue.
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Muhammad Mudassar
FA19-BAF-067 Section B
Global Business Management
Assignment No : Country: Sri Lanka
Submitted by : Muhammad Mudassar
Submitted to : Affan Ahmed Khan
Registration No : FA19-BAF-067
Subject : Global Business Management
Date : 10-April-2022
1|Page Muhammad Mudassar FA19-BAF-067 Section B Table of Contents 1 Currency exchange...................................................................................................................3
Inflation 4.30% 1.00 Sri Lankan Rupee = 0.0031749368 US Dollars
1 USD = 314.967 LKR
2 Interest rate
TE Calendar GMT Reference Actual Previous Consensus Forecast
2022-01- 02:00 AM 5.5% 5.0% 5%
20
2022-03- 02:00 AM 6.5% 5.5% 6%
04
2022-04- 12:20 PM 13.5% 6.5% 7.5%
08
2022-05- 02:00 AM 13.5%
19
Related Last Previous Unit Reference
Interest Rate 13.50 6.50 percent Apr 2022
Interbank Rate 6.96 6.96 percent Apr 2022
3|Page Muhammad Mudassar FA19-BAF-067 Section B Money Supply M1 1459895.00 1355117.00 LKR Million Dec 2021
Money Supply M0 969394.40 987573.30 LKR Million Nov 2021
Money Supply M2 9638905.00 9510655.00 LKR Million Dec 2021
Foreign Exchange 2362.00 3100.00 USD Million Jan 2022
Reserves
Banks Balance Sheet 13580558.20 13431975.30 LKR Million Nov 2021
Deposit Interest Rate 5.50 5.00 percent Jan 2022
Cash Reserve Ratio 4.00 4.00 percent Apr 2022
Lending Rate 6.50 6.50 percent Feb 2022
Central Bank Balance 2697059.10 2703422.90 LKR Million Nov 2021
Sheet
3 Inflation rate Last Previous Unit Reference Related
Inflation Rate 18.70 15.10 percent Mar 2022
Consumer Price Index CPI 164.90 160.10 points Mar 2022
Core Consumer Prices 161.20 159.20 points Feb 2022
Core Inflation Rate 9.90 8.30 percent Jan 2022
GDP Deflator 170.11 151.90 points Dec 2021
Export Prices 162.76 170.93 points Jan 2022
Import Prices 184.18 177.49 points Jan 2022
4|Page Muhammad Mudassar FA19-BAF-067 Section B Last Previous Unit Reference Related
CPI Transportation 165.20 142.70 points Mar 2022
CPI Housing Utilities 124.90 124.50 points Mar 2022
Inflation Rate Mom 3.00 1.10 percent Mar 2022
4 GDP per Capita
Last Previous Unit Reference Related
GDP 80.71 83.98 USD Billion Dec 2020
GDP per capita 4052.75 4225.11 USD Dec 2020
GDP per capita PPP 12536.94 13070.13 USD Dec 2020
5 Culture Sri Lanka is one of the few countries with a very vast and rich cultural diversity. The culture is itself very unique and thereby contributes to the Sri Lankan identity. Sri Lankan culture includes a lot of customs and rituals, whish date to more than 2000 years which were handed down from generation to generation. The most prominent feature of the Sri Lankan is its colourful festivals , which is one of the main tourist attractions. Religion plays an important role in molding the Sri Lankan culture and traditions.
Sri Lankan culture if often reflected by the use of art, architecture, sculptures ,and even food. Some people would say that Sri Lanka has a more conventional culture which is obviously influenced by the prominent religions prevailing the country such as buddhism, hinduism, islam ,
5|Page Muhammad Mudassar FA19-BAF-067 Section B etc. The Sri Lankan way of life is very simple and filled with humility and happiness , this is one of the reasons why the Sri Lankans have a very great sense in appreciating the simple things in life such as nature.
One of the main features of the culture is its Indian and Europen influence. Since most of the time Sri Lankan kings married Indian princesses they incorporated Indian culture into ours but still preserving the unique Sri Lankan identity. The European influence was a result of invasion from the Dutch and Portugese and finally the British. Hospitality is also one of the prominent characteristics of the culture, making Sri Lankans one of the friendly nations in the world
6 Major industries Top companies in Sri Lanka by revenue for April 2022
Industry: Textiles & Apparel, Consumer Goods, Manufacturing | 2 More
Location: Sri Lanka, Western, Rajagiriya
Revenue: $1.8B
Company: Hayleys
7|Page Muhammad Mudassar FA19-BAF-067 Section B Industry: Business Services General, Business Services, Crops | 1 More
Location: Sri Lanka, Western, Colombo
Revenue: $1.2B
Company: Mercantile Investments & Finance
Industry: Banking, Finance
Location: Sri Lanka, Western, Colombo
Revenue: $994.1M
Company: AMBEON Holdings
Location: Sri Lanka, Western, Colombo
Revenue: $849.8M
Company: Commercial Bank
Industry: Banking, Finance
Location: Sri Lanka, Western, Colombo
Revenue: $830.3M
7 Business opportunities Sri Lanka is a lower middle-income country with a sizeable middle class that seeks U.S. and Western products and services. However, the country still has significant infrastructure needs, and the government continues to invest in roads, public transportation, ports, airports, public
8|Page Muhammad Mudassar FA19-BAF-067 Section B housing, waste and water treatment, and power projects. Owing to substantial public debt, the government has mandated all development initiatives will be on a build-own-operate-transfer basis with no debt capital funded projects. As a hub for tourism, Sri Lanka also requires a range of services and high-end products. Sri Lanka also seeks to position itself as a logistics and technology hub for the region, which creates an opportunity for information technology equipment and services exports.
Priority sectors include:
Infrastructure Development: Engineering, construction and equipment products and
services for road, power plants, sewage, water, rail, port, and airport projects. Real Estate and Construction: The country’s construction sector continues to grow rapidly in development of high-end residential, commercial space, hotel and resort construction, and infrastructure – contributing an estimated 4 percent to GDP in 2020. The annual value of the construction sector in 2020 is estimated at $3.9 billion. Many domestic and international companies are active in the industry. Textiles: Sri Lanka imports approximately $2.8 billion of textiles and yarn annually for the apparel industry and requires a range of equipment and services. Agriculture: A growing need for wheat grain, lentils, cotton yarn, and fruits; and development of agriculture-related infrastructure, including cold-storage facilities. Telecommunications and Technology: Sri Lanka aims to become an information technology hub and 5G trials are already underway. In addition, the Government of Sri Lanka and private sector institutions are digitizing records and processes and upgrading existing networks and systems. Franchising: Franchises offer another opportunity to appeal to tourists and a growing middle class.
8 Import and export
8.1 Imports:
1) Mineral fuels including oil: US$2.1 billion (13.4% of total imports)
9|Page Muhammad Mudassar FA19-BAF-067 Section B 3) Machinery including computers: $1.3 billion (8%) 4) Knit or crochet fabric: $762.9 million (4.9%) 5) Plastics, plastic articles: $611.5 million (3.9%) 6) Vehicles: $603.6 million (3.9%) 7) Iron, steel: $544.1 million (3.5%)
8.2 Exports
1) Mineral fuels including oil:$695.2 million
2) Vehicles: $537.8 million 3) Iron and steel: $292.5 million 4) Salt, sulphur, stone, cement: $291.7 million 5) Cereals: $241.4 million 6) Cotton: $232.8 million 7) Machinery: $218.1 million 8) Pharmaceuticals: $208.5 million 9) Knitted or crocheted fabric: $132.6 million 10) Arms, ammunition: $121.2 million
