Economic Characteristics
Gross Domestic Product of Sri Lanka
The diagram to the left shows the Land use and economic activity of Sri Lanka using the legend or key we can discover what industries or products are being produced in certain areas. The Northern and North Western provinces of Sri Lanka are mainly scrub or second-growth forest, the products that are most common in these areas are Rice and Coconuts, one of the major coconut suppliers of this area is the 'Coconut Development Authority' located in the the city of Anuradhapura which sell items from food to coconut oil to ornaments made from coconuts. The Western, Sabaragamuwa and part of the Central provinces are major domestic product suppliers with Coconut plantations along the coast, a mix of Rice and Coconut fields followed by Rubber suppliers and finally Tea fields surrounding the city of Kandy. The major Tea Industry of Sri Lanka is the Loolecondera Tea Estate in Loolecondera, it is known as the first tea estate of Sri Lanka as it was established in 1867, the estate is approximately 35km. Hardwood plantations are spotted aimlessly throughout Sri Lanka yet the bulk of plantations is situated in the Eastern Province, Rice fields are also placed at random throughout Sri Lanka yet the largest collaboration of rice fields is along the South of the Eastern Province.
Tea - The largest agricultural crop of Sri Lanka accounting for 18% of the export income of the country. The Tea industry has the highest rate of employment in Sri Lanka with the country being the third largest producer of tea in the world (after China and India).
Coconut - Coconut is the largest plantation crop of Sri Lanka, from 0.45million hectares of coconut, 58% belongs to smallholder, it is estimated that 700,000 farmer households depend on coconuts for their income.
Rubber - Sri Lanka has approximately 180 factories that produce raw dry rubber, used to make tyres, tubes, garden hoses, shoes and toys. Also, 15 factories in Sri Lanka produce concentrated latex to make both household and surgical rubber gloves aswell as balloons.
Tea - The largest agricultural crop of Sri Lanka accounting for 18% of the export income of the country. The Tea industry has the highest rate of employment in Sri Lanka with the country being the third largest producer of tea in the world (after China and India).
Coconut - Coconut is the largest plantation crop of Sri Lanka, from 0.45million hectares of coconut, 58% belongs to smallholder, it is estimated that 700,000 farmer households depend on coconuts for their income.
Rubber - Sri Lanka has approximately 180 factories that produce raw dry rubber, used to make tyres, tubes, garden hoses, shoes and toys. Also, 15 factories in Sri Lanka produce concentrated latex to make both household and surgical rubber gloves aswell as balloons.
International Relations
Aid
Australia has a significant program in which they invested in for Sri Lanka's future with an estimated $47.1 million during 2012 to 2013. Australia's money is helping to fund for many things including, resettling people who have been displaced by civil conflict by repairing and reconstructing houses. Australia's assistance to remove landmines has enabled Sri Lankan people to return to their homes and resume working, from this work 81% of mine-affected areas have now been cleared. Australia is shifting it's focus from humanitarian support to long-term development assistance which includes building economic infrastructure and improving education, forest management, water supplies and sanitation
Trade
Trade between both Sri Lanka and Australia has been increasing steadily by 12.4% in 2011 which then reached a total of $352 million. Australian companies have recently involved themselves in industries such as, the dairy industry, solar energy and water distribution sectors for projects in Sri Lanka.
Migration
Sri Lankans see Australia as a wonderful destination for both permanent and temporary migration, the amount of permanent visas which have links with family and the pursuit of skilled opportunities and higher education has increased from Sri Lankan visitors to Australia. The amount has increased to 8.4% over the past 5 years, according to the 2011 Census, there were more than 86,000 Sri Lankan people who have migrated to Australia living in the country. The numbers of Australian visitors to Sri Lanka for holidays is increasing greatly with 37,200 Australians who chose to travel to Sri Lanka in 2010, rising to 44,600 in 2011 and finally 28,000 Australians travelled to Sri Lanka in the first six months of 2012.