Analysis the Impact of COVID-19 on Sri Lanka Economy

The global pandemic and how impact of COVID-19 on Sri Lanka Economy are key concept linked to the subject under discussion. COVID-19 is the ongoing menace to the all over the world, labelled as pandemic and worst economic shock in recent history. Sri Lanka is one of the most vulnerable middle- income countries suffer most during this novel virus outbreak. The economics impact of COVID-19 using economics indicators, to find out the impact of COVID-19outbreak GDP, Tourism, poverty, household income, Exchange Rate, Remittance to find out the solution and recommendation to revitalize the Sri Lankan economy in future. this Research study is based on secondary data such as published research article, WHO statement , Central Bank reports, UNICEF magazine , Sri Lankan report and newspaper article. We can study in the Gross domestic product (GDP) in our country ,how to reduce in GDP & what area include In GDP. After can identify tourism, Poverty, House holder income , exchange rate and finally remittance. The outcomes uncovered that there is a tremendous effect due to COVID-19 on the Sri Lankan economy. Because China one is of the major country linked with Sri Lanka in tourism .It is the second largest source market for SL in term of tourism and imports and the main supplier of raw materials for textile also. Therefor COVID-19 chains has been caused significant impact on Sri Lankan economy. and also there us many ongoing trade with USA,UK and European countries as well. It is also impacted by COVID-19 pandemic due to decrease demand export, demand for the tourism is dropped now. There is a global travel restriction for foreign passengers from mid-March in SL due to the closed of SL’s border. There is considerable amount of Sri Lankan employers have been terminated in Middle East countries. It will affect the foreign income and Sri Lankan rupee is considerably depreciated against US dollar and reached to s 187.79 . We can conclude that Sri Lanka is the most susceptible middle income country du to the impact of COVID19 pandemic. Therefor proactive policy measures should be undertaken to mitigates the economic slowdown in Sri Lanka