I found the news in Yahoo! Asia News. Sri Lanka's trade deficit for January 2006 is $240 million. The figure may not sound like too much but considering the fact that this figure was only $62.3 million for the same month one year ago. It is some shocking, isn't it? Imports are high while exports are down- so naturally trade deficit has increased. Import of machinery has increased. As a result of oil price increase in the international market, the expense of petroleum import has increased too. Unfortunately, Sri Lanka does not have any oil or gas and it has to depend on imports.
The good side of Sri Lankan economy is that the country has a very high rate of literacy in South Asia. Its work force is skilled as much as India(if not better).
Civil war in the North against the Tamil guerrillas is eating up all the goodies of Sri Lankan economy. The government and the rebel guerrillas do not seem to care for the economy and even the most optimistic person can find no hope for the conflict to end in near future. Thus the people of Sri Lanka can do nothing but lament for the waste of their talents and hard work.
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