Forex Trading Business

Occupied by the Portuguese in the 16th century and by the Dutch in the 17th century, the island was ceded to the British in 1796, became a crown colony in 1802, and was united under British rule by 1815. As Ceylon, it became independent in 1948; its name changed to Sri Lanka in 1972. Tensions between the Sinhalese majority and Tamil separatists erupted into war in 1983. Tens of thousands have died in the ethnic conflict that continues to fester. After two decades of fighting, the government and Liberation Tigers of Tamil Eelam (LTTE) formalized a cease-fire in February 2002 with Norway brokering peace negotiations. Violence between the LTTE and government forces intensified in 2006, but neither side has formally withdrawn from the cease-fire.

Main Airports

Colombo Bandaranaike (CMB) (Katunayake)

U.S. Embassy

210 Galle Road, Colombo 3
tel: 94-11-249-8500

Statistics

GDP: purchasing power parity:

$85.34 billion (2005 est.)

GDP - real growth rate:

5.6% (2005 est.)

GDP - per capita: purchasing power parity:

4,300 (2005 est.)

Inflation rate (consumer prices):

11.6% (2005 est.)

Labor force:

8.08 million (2005 est.)

Exports:

$6.442 billion f.o.b. (2005 est.)

Exports - partners:

US 30.9%, UK 11.6%, India 6.9%, Belgium 4.8%, Germany 4.5% (2005)

Imports:

$8.37 billion f.o.b. (2005 est.)

Imports - partners:

India 16.8%, China 10.5%, Singapore 7.6%, Iran 5.8%, Hong Kong 4.8% (2005)

Population:

20,222,240 (July 2006 est.)

Population growth rate:

0.78% (2006 est.)

Population Below Poverty Line:

22% (1997 est.)

Major Industries:

processing of rubber, tea, coconuts, tobacco and other agricultural commodities; telecommunications, insurance, banking; clothing, textiles; cement, petroleum refining

Employing Workers: 98*

Registering Property: 125*

Enforcing Contracts: 90*

Closing a Business: 59*

*2006 World Bank rank out of 175 countries