The World Bank, in its 2019 country classification release, has elevated Sri Lanka from a lower middle-income country to an upper-middle-income country. The World Bank uses GNI per capita and not the more popularly known Gross Domestic Product or GDP per capita for classifying countries into different stages of economic advancement. That is because GNI includes all the incomes earned by peoples of a country irrespective of whether they are resident in that particular country or not. In contrast, GDP measures the incomes earned by all within the territory of a country irrespective of whether they are citizens or not. Hence, GNI pertains to the people of a country and therefore is a better indicator of the wellbeing of such people. For international comparison, the World The bank converts GNI per capita measured in the local currency into US dollars by using an average exchange rate. The sri Lanka import and export data provide you the real picture of Sri Lankan market w
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