COVID-19 and It's Impact of Sri Lanka Economy

Abstract

COVID-19, which is caused by the corona virus, is an infectious disease that was discovered in early 2020. The virus began to spread in December 2019 (WHO, 2020) based in Wuhan, China. Each plague-stricken country began to look for appropriate measures. The epidemic is not over yet Sri Lanka is taking and taking various measures to control it. The threat is still the same. The research examines the economic impact of Kovid-19 on the Sri Lankan economy, with the main objectives being to identify areas of economic growth such as tourism, food and agriculture, apparel, exports, small and medium enterprises. This revitalization study is based on published data on export earnings, the World Health Organization, the CBSL Annual Report, and newspaper articles. The secondary data analysis method was mainly used to interpret the result. The study found that key revenue industries such as agriculture, tourism, apparel and textiles and small and medium enterprises were affected by the epidemic. Total export earnings from tea were $ 347.3 million in 2019, down $ 270.1 million from January to March 2020. Income from other agricultural sectors such as fruit and vegetable production (coconut production 15.9) and coconut production (136). Compared to March 2019, it has dropped significantly to $ 9 million. During the period from January to June 2019, the tourism industry was $ 1,901 and in 2020 it was at a low of 956 (January to June). Sales of more than 80% of small and medium enterprises have fallen due to delays or cancellations of orders from local and foreign buyers. Increasing demand for alternative tourism businesses, including Towns, is completely changing the way business lending to small retailers, wholesalers and small and medium-sized enterprises is conducted. Just as well-planned and well-planned processes are needed to revive the economy, it is imperative that all brains be integrated into a single brain.