Türkiye-Sri Lanka Economic and Trade Relations

Main Economic Indicators (2024)

GDP (billion $)

98,96

Real GDP Growth Rate (%)

+5,0%

Population (million)

21,76

GDP Per Capita ($)

4,516

Inflation Rate (%)

-0,4%

Unemployment Rate (%)

%4,4

Exports (billion $)

16,2

Imports (billion $)

18,9

Bilateral Trade Volume (million $)

216

The most important export markets for Sri Lanka: USA, United Kingdom, India

Main Countries for Sri Lankan Imports: China, India, UAE

Main Export Items: Textiles and ready-made clothing, tea, rubber and rubber products, coconut and its derivatives, spices

Main Import Items: Mineral fuels and petroleum products, machinery, boilers, vehicles

Bilateral Economic and Trade Relations Between Sri Lanka and Türkiye

Figures of export, import, trade volume (million $)

Year

Export

Import

Volume

Balance

2020

77,5

89,9

167,4

-12,4

2021

93,9

98,9

192,8

-5,1

2022

156,4

94,1

250,5

+62,3

2023

133,4

103,3

236,7

+30

2024

104,7

112,3

216,9

-7,7

Source: TÜİK

Main export items: Wheat flour, pulses, motor land vehicles and parts, electrical machinery and devices, inorganic chemicals, coffee, tea

Main import items: Ready-made clothing and textile products, tea, rubber products, coconut derivatives, activated carbon and spices. (While our country was the country to which Sri Lanka exported the most tea in 2017, it fell to fifth place as of April 2025.)

JEC: The 1st Meeting of the Turkey-Sri Lanka Joint Economic Commission (JEC) was held in Ankara on 10-11 November 2016, and the 2nd Meeting was held online on 10 June 2021 due to the Covid-19 pandemic. The 3rd Meeting is planned to be held on 24-25 July 2025.

Investments: It is estimated that direct capital investments from Turkey to Sri Lanka are around 3 million dollars, including the housing project carried out by the Turkish Cooperation and Coordination Agency (TIKA). There is no direct capital investment from Sri Lanka to our country.

Aid: As of May 2024, a total of 19 projects and activities have been carried out by TIKA.