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Sri Lanka general info
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Buiness in Sri Lanka
Geographic Location
Sri Lanka
is an island situated at the southern tip of India between 6° and 10° north
and 80° and 82° east. The country is separated from India by the Palk
Straits, 32km wide at its narrowest.
Sri Lanka measures 432 km north to south & 224 km east to west, covering
a total area of 65,610 sq.km.
The island's strategic location in the Indian Ocean on the major air &
sea routes between Europe & the Far East is an advantage to positioning
Sri Lanka as a global logistics hub.
Key Economic Indicators
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Units
|
2001
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2002
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2003
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2004
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2005
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2006(a)
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|
GDP at current market price
|
SLRs. Bn
|
1,407
|
1,582
|
1,761
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2,029
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2,366
|
2,802
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|
Real
GDP Growth
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%YoY
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-1.5
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4.0
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6.0
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5.4
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6.0
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7.4
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Per Capita GDP
|
US$
|
841
|
870
|
948
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1,030
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1,197
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1,355
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Sectoral Growth Rate
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|
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Agriculture
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%YoY
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-3.4
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2.5
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1.6
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-0.3
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1.9
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4.7
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Construction
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%YoY
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2.5
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-0.8
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5.5
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6.6
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8.9
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8.0
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Industry
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%YoY
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-2.1
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1.0
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5.5
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5.2
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8.3
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7.2
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Services
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%YoY
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-0.5
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6.1
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7.9
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7.6
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6.2
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8.3
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WA
Prime Lending Rate
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%
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14.3
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12.2
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9.3
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10.2
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12.2
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15.19
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Investment
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% of
GDP
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22.0
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21.3
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22.1
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25.0
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26.5
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28.7
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Domestic Savings
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% of
GDP
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15.8
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14.5
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15.9
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15.9
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17.2
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17.1
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Exports
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US$ mn.
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4,817
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4,699
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5,133
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5,757
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6,347
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6,883
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%YoY
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-13.2
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-2.45
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9.24
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12.2
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10.25
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8.4
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Imports
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US$.mn.
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5,974
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6,105
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6,672
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8,000
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8,863
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10,253
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%YoY
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-18.4
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2.21
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9.27
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19.9
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10.8
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15.7
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Exchange
Rate
|
SLRs./US$
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89.36
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95.66
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96.52
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101.19
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100.50
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103.96
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(Annual Average)
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%YoY
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-17.9
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-7.05
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-0.9
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-4.9
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0.7
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-3.4
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(a)
Provisional
SLR - Sri Lankan Rupee
Source: Central Bank of Sri Lanka
GDP First Half 2004, 2005 and 2006 (at 1996 Constant Factor Cost
Prices)
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Sector
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First Half (Rs.Mn.)
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Growth Rates (%)
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2004
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2005 (a)
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2006 (b)
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First Half
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05/04
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06/05
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Agriculture
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84,603
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83,315
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89,265
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-1.5
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7.1
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Industry
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123,015
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133,066
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141,225
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8.2
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6.1
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Services
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256,464
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272,209
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297,039
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6.1
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9.1
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GDP
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464,082
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488,591
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527,530
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5.3
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8.0
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(a)
Revised
(b) Provisional
Source : Central Bank of Sri Lanka
Selected Economic Indicators
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Units
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|
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Commercial Bank Average
Weighted Prime Lending Rate
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|
|
|
Week Ending March 30, 2007
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%
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20.01
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Year ago
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%
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11.97
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|
|
|
|
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Exchange Rate
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SLRs /
US$.
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|
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Week ending March 30, 2007
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|
109.32
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Year ago
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102.72
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SLRs - Sri
Lankan Rupee
Source: Central Bank of Sri Lanka
Climate
Sri Lanka
has a pleasant tropical climate with two climatic zones - the wet & the
dry. Temperatures range from 23-30 degrees Celsius in the lowlands & 16 -
25 degrees Celsius in the hill country. The average temperature in the
country is approximately 27 degrees Celsius.
Temperature : ºC
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Minimum
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Maximum
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Low Country
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23.8
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31.6
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Hill Country
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16.9
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25.8
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Population
Mid - year
population ('000) (2005)
19,668
Male ('000)
9,361
(47.6%)
Female ('000)
10,306 (52.4%)
Population Density (2005) 314
persons per sq. km
Source : Department
of Census & Statistics, Sri Lanka
Population Composition by Ethnic
Group
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Singhalese
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74.0 %
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Sri Lankan Tamils
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12.6 %
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Moors
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7.1 %
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Indian Tamils
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5.5 %
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Others
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0.08%
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Source :
Department of Census & Statistics, Sri Lanka
Religion Composition by Religion
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Buddhists
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69.3%
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Hindus
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15.5 %
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Christians
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7.6 %
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Muslims
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7.5 %
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Others
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0.1%
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Source : Department
of Census & Statistics, Sri Lanka
Sri Lanka is a multi-ethnic, multi religious country with a diverse &
rich culture. The Sinhalese, the majority community, comprise 74.0% of the
country's estimated 19.7mn population. The other ethnic groups that are part
of Sri Lanka's social fabric are the Sri Lankan Tamils, Indian Tamils, Moors
& other minorities including Malays & Burghers. Each of these groups
has its own identity, customs & traditions.
Languages
The two
official languages are Sinhala & Tamil. Sinhala is the language of the
majority of the population. Tamil is widely used in the northern &
eastern parts of the country. English is widely spoken & understood in
the urban centres. It is the language of business & commerce.
Souce:
Board of Investment, Sri Lanka
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