Comparison Between Sri Lanka's Economy and Australia's

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Economics Assignment

DEVELOPING NATION-SRI LANKA
Overview
Located in the northern Indian ocean, under the Indian sub-continent the tiny island of Sri Lanka houses a variety of different cultures, religions, and languages that all co-exist among each other. Among these cultures and religions the nation also provides sanctuary for five major races the: Singhalese, Tamils, Burghers, Malays and Muslims. Accompanying its five major races the country has also developed four major religions, including; Buddhism, Catholicism, Hindu and Muslim. In hope of conveying the message of equality, the Sri Lankan flag was developed through colours and symbols to represent each race and religion ensuring that the nation remains a place of peace and harmony. Its current main goals are the development of the nation’s infrastructure, economy and lifestyle of the people. Country- Sri Lanka | |

Population- 21,386,870 * 10,551,931 (Male) * 10,834,939 (Female)| This graph indicates the population growth of Sri Lanka until 2008| Capital * Commercial= Colombo * Actual=Sri Jayewardenepura Kotta| This map indicates the Sri Lankan commercial capital and all other towns surrounding it.

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Leader- Mahindra Rajapakse The recently elected leader that freed the nation from its thirty year war and is trying to restore the radically decreasing economy. | This pitcure is a portrait of the current Presisdent of Sri Lanka. This president was responsible for the ending of the 30 year civil war that ravaged the land. During this period, life became very difficult for all Sri Lankan people as nearly 70% of the budget was devoted to the armed forces. | Main Industry * Tea export * Tourism * Apparel * Textile * Rice Production * Clothing Creation * Rubber * Gem mining * Overseas Employment| This graph indicates the different industries within Sri Lanka and how much each contributes.| Main Exports * Spices * Tea * Gems and Jewellery * Rubber * Clothing * Tropical Fruits and Vegetables * Clothing * Tropical Fruits and Vegetables| This graph indicates the major tea manufactures around the world, and portrays that Sri Lanka contributes to 23% of the world’s tea.

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Main Imports * Petroleum * Motor Vehicles * Synthetic Yarn Fabrics * Wheat Fertilizer * Chemicals * Food (Not native to Sri Lanka)| This table indicates the expenditure of imports throughout the year.

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Trading Partners * USA * Japan * Germany * India * United Kingdom * Hong Kong * Belgium| Thanks to these industries, Sri Lanka was able to stabilise its economy during periods of war, without rapidly declining.

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Currency
The writing is a form of security protocol imprinted within the note. Unfortunately due to Sri Lanka’s lack of technology notes and coins are forged every day. The note itself is 1000 rupee that has been newly imprinted. The person imprinted on the note is the current president.

Like any nation, Sri Lanka has developed its own form of currency that has adopted the symbol of Rupees, originating from India. The notes and coins themselves are reproduced yearly and are often printed with the image of the current President. The latest being of Mahinda Rajapakse. Due to Sri Lanka’s failing economy the amount on each note is often very high, the highest being a 1000 rupee note. This also affects the Sri Lankan exchange rate and is one of the key reasons as to why the country is unable to afford resources from foreign countries.

Government/Economy Type
1. Government Type
Since becoming a republic in 1972, the Sri Lankan government has grown immensely and currently operates as a democratic republic. Unfortunately due to the high amount of corruption and bribery that occurs in developing countries, the Country and its people have been subjected to poll fixing and bribery, resulting in the election of leaders that are only...
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