Trade in services in Sri Lanka
Sri Lanka: Trade in services was 10.4% in 2024. ▼ Falling
Trade in services in Sri Lanka, 1975–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Sri Lanka recorded 10.4% for trade in services in 2024.
Compared with earlier readings it is up 12.7% on the previous year and down 7.8% over ten years.
Over the whole period, trade in services in Sri Lanka peaked at 19.7% in 2001 and was at its lowest, 3.8%, in 2021.
That places Sri Lanka 160th out of 200 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 50 years of available data.
Trade in services in Sri Lanka, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1975 | 5.0% | — |
| 1976 | 4.9% | -2.7% |
| 1977 | 5.0% | +3.1% |
| 1978 | 10.5% | +107.2% |
| 1979 | 11.5% | +9.6% |
| 1980 | 14.5% | +26.2% |
| 1981 | 14.5% | -0.1% |
| 1982 | 14.3% | -1.2% |
| 1983 | 13.6% | -4.5% |
| 1984 | 10.9% | -20.0% |
| 1985 | 11.8% | +7.6% |
| 1986 | 12.6% | +7.0% |
| 1987 | 12.9% | +2.6% |
| 1988 | 12.7% | -1.5% |
| 1989 | 13.0% | +2.7% |
| 1990 | 13.4% | +3.0% |
| 1991 | 14.5% | +8.3% |
| 1992 | 14.9% | +2.4% |
| 1993 | 14.6% | -2.0% |
| 1994 | 15.4% | +5.6% |
| 1995 | 15.5% | +0.5% |
| 1996 | 14.2% | -8.5% |
| 1997 | 14.4% | +1.8% |
| 1998 | 14.5% | +0.2% |
| 1999 | 15.1% | +4.7% |
| 2000 | 15.4% | +1.9% |
| 2001 | 19.7% | +27.8% |
| 2002 | 17.3% | -12.5% |
| 2003 | 16.4% | -5.1% |
| 2004 | 16.6% | +1.6% |
| 2005 | 14.9% | -10.5% |
| 2006 | 14.2% | -4.4% |
| 2007 | 13.5% | -4.8% |
| 2008 | 12.3% | -9.0% |
| 2009 | 10.5% | -14.8% |
| 2010 | 9.5% | -9.2% |
| 2011 | 10.5% | +9.9% |
| 2012 | 9.0% | -14.1% |
| 2013 | 10.6% | +18.3% |
| 2014 | 11.3% | +6.2% |
| 2015 | 12.3% | +8.8% |
| 2016 | 13.0% | +5.3% |
| 2017 | 12.9% | -0.6% |
| 2018 | 13.7% | +6.8% |
| 2019 | 13.6% | -1.1% |
| 2020 | 6.2% | -54.2% |
| 2021 | 3.8% | -39.0% |
| 2022 | 5.4% | +42.6% |
| 2023 | 9.3% | +70.9% |
| 2024 | 10.4% | +12.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 7.4% | 4.9% | 11.5% | 5 |
| 1980s | 13.1% | 10.9% | 14.5% | 10 |
| 1990s | 14.7% | 13.4% | 15.5% | 10 |
| 2000s | 15.1% | 10.5% | 19.7% | 10 |
| 2010s | 11.6% | 9.0% | 13.7% | 10 |
| 2020s | 7.0% | 3.8% | 10.4% | 5 |
Countries ranked near Sri Lanka
More economy & growth data for Sri Lanka
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP -8.07 Percent per annum (2022)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP -7.82 Percent per annum (2022)
- Gross capital formation (current US$), annual growth rate 22.92 % change on previous year (2025)
- Gross capital formation (current US$), per unit of GDP 0.2965 current US$ per US$ of GDP (2025)
- Gross capital formation (current US$), per capita 1,483 current US$ per person (2025)
- Gross capital formation (current LCU), annual growth rate 22.45 % change on previous year (2025)
- Gross capital formation (current LCU), per unit of GDP 89.22 current LCU per US$ of GDP (2025)
- Gross capital formation (current LCU), per capita 446,273 current LCU per person (2025)
- Gross capital formation (constant 2015 US$), annual growth rate 9.78 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.2244 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is trade in services in Sri Lanka?
- Trade in services in Sri Lanka was 10.4% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Sri Lanka?
- The highest recorded value was 19.7% in 2001.
- What is the lowest trade in services recorded in Sri Lanka?
- The lowest recorded value was 3.8% in 2021.
- How does Sri Lanka rank for trade in services?
- Sri Lanka ranks 160th out of 200 countries with data for 2024.
- Is trade in services rising or falling in Sri Lanka?
- Over the last ten years it is down 7.8%. The long-run trend across the full record is falling.
- Where does this Sri Lanka data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Trade in services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.