Sri Lanka: Financial openness
* indicates monthly or quarterly data series
| Sri Lanka |
Financial openness index |
|---|---|
| Latest value | -1.248 |
| Year | 2022 |
| Measure | index points |
| Data availability | 1970 - 2022 |
| Average | -0.742 |
| Min - Max | -1.935 - 1.028 |
| Source | Chinn-Ito Index |
The latest value from 2022 is -1.248 index points, unchanged from -1.248 index points in 2021. In comparison, the world average is 0.307 index points, based on data from 174 countries. Historically, the average for Sri Lanka from 1970 to 2022 is -0.742 index points. The minimum value, -1.935 index points, was reached in 1970 while the maximum of 1.028 index points was recorded in 1992.
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Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 85.60 | 2023 | percent |
| Trade openness | 42.40 | 2024 | percent |
| Financial openness | -1.248 | 2022 | index points |
| Exports, percent of GDP | 19.89 | 2024 | percent |
| Exports, billion dollars | 19.68 | 2024 | billion U.S. dollars |
| Growth of exports | 12.50 | 2024 | percent |
| Imports, percent of GDP | 22.51 | 2024 | percent |
| Imports, billion dollars | 22.28 | 2024 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 0.85 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 0.76 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | 8.09 | 2023 | million dollars (current) |
| Current account, percent of GDP | 1.22 | 2024 | percent |
| Trade balance, percent of GDP | -2.62 | 2024 | percent |
| Trade balance, in dollars | -1.50 | 2023 | billion U.S. dollars |
| Reserves | 6.09 | 2024 | billion U.S. dollars |
| Remittances, percent of GDP | 6.40 | 2023 | percent |
| Remittances | 6,022.59 | 2023 | million U.S. dollars |
| Net errors and omissions | -325.42 | 2024 | million USD |
| External debt | 64.97 | 2024 | percent |
| Short-term external debt | 11.55 | 2024 | percent |
| Short-term debt to reserves | 121.83 | 2024 | percent |
| External debt in foreign currencies | 99.61 | 2024 | percent |