No more Tigers: new Asian Tiger?

18 May 2009 By Martin Hutchinson

Sri Lanka has achieved reasonable economic growth in spite of its civil war. If peace lies ahead, the best way to quiet remaining unrest is through rapid growth. That could be achieved by becoming India s lowtax, highskill neighbour, like Taiwan s relationship with China.

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Sri Lanka declared that it was free from terror on May 18 after government troops killed Velupillai Prabhakaran, leader of the island's Tamil Tiger rebels involved in the island's 26year civil war, and his son.

Sri Lanka's's population was 21.3m in 2008, growing at 0.9% annually. Its GDP (at the official exchange rate) was $38bn in 2008, growing at 6%, while GDP per capita (at purchasing power parity) was $4,300. Inflation in 2008 was 14%. Its budget deficit in 2008 was 8% of GDP. Sri Lanka's exports were $8bn, its imports $14bn, and foreign debt amounted to 78% of GDP. Sri Lanka ranked 92nd on Transparency International's Corruption Perceptions Index in 2008. Its Gini inequality coefficient was 49 and its literacy rate was 91%.

Taiwan had population of 23m in 2008 and a GDP of $402bn (at market prices) and $31,900 per capita (at purchasing power parity). China (including Hong Kong) represents 33% of its exports and 11% of its imports.

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