SRI LANKA’S MAIN CONSTRAINTS TO BE AN “ECONOMIC MIRACLE OF ASIA” WITHIN NEXT FEW YEARS

 Normally economic growth of a country is measured by Gross Domestic Product (GDP) in one year. GDP is the total amount of final goods and services produced in one year within the country. When we consider Sri Lanka GDP, it is as follows.

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The largest contribution to this GDP is from the service sector. In 2013, it contributed by 58% for total GDP. In this service sector wholesale and retail trade, transport, communication, banking, insurance and real state are the segments of this service sector. The next sector is industry. It contributed by 30% of total GDP with manufacturing, mining and construction. Agriculture, livestock, forestry and fishing contributed by the remaining 12%. When we comparing these values with the previous year(2012) values, there is no a big difference between them.

After the end of three decades of civil conflict, Sri Lanka is trying to main aim of this be the “Economic Miracle of Asia”. A main aim of this target is, reaching per capita income around US $ 4000 and achieving US $ 18 billion exports by 2016. To achieve such an income, the GDP per capita should be double as the current value. For that the growth rate of GDP should be double. But when we con