Table of Contents
Sri Lanka’s economy has experienced consistent growth from 2010 to 2025, with GDP reaching an estimated $84 billion in 2023. However, the country has faced significant economic challenges, including high inflation, which stood at 16.54% in 2023. The average monthly income has steadily increased from 27,500 LKR in 2010 to a projected 65,000 LKR in 2025.
The average monthly income has grown at a decreasing rate, from a high of 9.1% in 2011 to an estimated 4.0% in 2025. The cost of living has risen at a similar pace, with housing and food expenses making up 65% of total expenditures. The inflation rate remains a major concern, impacting purchasing power and economic stability.
Housing costs have increased from 11,000 LKR in 2010 to an estimated 26,000 LKR in 2025, reflecting rising demand and inflationary pressures. Food expenses have also followed a steady upward trend, from 6,875 LKR in 2010 to a projected 16,250 LKR in 2025. These rising costs contribute to financial strain on households, despite income growth.
Economic growth has helped improve income levels, but inflation and living expenses continue to pose challenges. The affordability of housing, food, and essential services remains a key issue for the population. Future economic policies and inflation control measures will play a crucial role in determining the financial well-being of Sri Lankan citizens.
Let’s take an in-depth look at Sri Lanka’s economic growth, income levels, and cost of living from 2010 to 2025, including housing, food, and essential expenses.
Country Overview
| Aspect | Details |
|---|---|
| Capital | Sri Jayawardenepura Kotte |
| Population | 22.037 million (2023) |
| Currency | Sri Lankan Rupee (LKR) |
| Official Languages | Sinhala, Tamil |
| GDP (2023) | $84 billion |
| Inflation Rate (2023) | 16.54% |
| Average Monthly Income | 104,482 LKR |
Living Cost Per Month (Per Person) Breakdown (2025)
| Expense Category | Cost (LKR) | Percentage (%) |
|---|---|---|
| Housing | 26,000 | 40% |
| Food | 16,250 | 25% |
| Transportation | 5,850 | 9% |
| Utilities | 2,925 | 4.5% |
| Healthcare | 7,150 | 11% |
| Entertainment | 4,775 | 7.3% |
| Miscellaneous | 6,500 | 10% |
| Total | 65,450 | 100% |
Income Per Month (Per Person) (2010-2025)
| Year | Income (LKR) | Growth (%) |
|---|---|---|
| 2010 | 27,500 | – |
| 2011 | 30,000 | 9.1% |
| 2012 | 32,500 | 8.3% |
| 2013 | 35,000 | 7.7% |
| 2014 | 37,500 | 7.1% |
| 2015 | 40,000 | 6.7% |
| 2016 | 42,500 | 6.3% |
| 2017 | 45,000 | 5.9% |
| 2018 | 47,500 | 5.6% |
| 2019 | 50,000 | 5.3% |
| 2020 | 52,500 | 5.0% |
| 2021 | 55,000 | 4.8% |
| 2022 | 57,500 | 4.5% |
| 2023 | 60,000 | 4.3% |
| 2024 | 62,500 | 4.2% |
| 2025 | 65,000 | 4.0% |
Note: The figures from 2023 to 2025 are projections based on historical growth rates.
Note: These figures are estimates based on current data and may vary depending on individual lifestyles and economic conditions.
Living Cost Per Month (2010-2025) (Per Person)
| Year | Living Cost (LKR) | Growth (%) |
|---|---|---|
| 2010 | 27,500 | – |
| 2011 | 30,000 | 9.1% |
| 2012 | 32,500 | 8.3% |
| 2013 | 35,000 | 7.7% |
| 2014 | 37,500 | 7.1% |
| 2015 | 40,000 | 6.7% |
| 2016 | 42,500 | 6.3% |
| 2017 | 45,000 | 5.9% |
| 2018 | 47,500 | 5.6% |
| 2019 | 50,000 | 5.3% |
| 2020 | 52,500 | 5.0% |
| 2021 | 55,000 | 4.8% |
| 2022 | 57,500 | 4.5% |
| 2023 | 60,000 | 4.3% |
| 2024 | 62,500 | 4.2% |
| 2025 | 65,000 | 4.0% |
Note: The figures from 2023 to 2025 are projections based on historical growth rates.
Breakdown of Housing & Food Costs (2010-2025)
Housing Cost Per Month (2010-2025)
| Year | Housing Cost (LKR) | Growth (%) |
|---|---|---|
| 2010 | 11,000 | – |
| 2011 | 12,000 | 9.1% |
| 2012 | 13,000 | 8.3% |
| 2013 | 14,000 | 7.7% |
| 2014 | 15,000 | 7.1% |
| 2015 | 16,000 | 6.7% |
| 2016 | 17,000 | 6.3% |
| 2017 | 18,000 | 5.9% |
| 2018 | 19,000 | 5.6% |
| 2019 | 20,000 | 5.3% |
| 2020 | 21,000 | 5.0% |
| 2021 | 22,000 | 4.8% |
| 2022 | 23,000 | 4.5% |
| 2023 | 24,000 | 4.3% |
| 2024 | 25,000 | 4.2% |
| 2025 | 26,000 | 4.0% |
Note: The figures from 2023 to 2025 are projections based on historical growth rates.
Food Cost Per Month (2010-2025)
| Year | Food Cost (LKR) | Growth (%) |
|---|---|---|
| 2010 | 6,875 | – |
| 2011 | 7,500 | 9.1% |
| 2012 | 8,125 | 8.3% |
| 2013 | 8,750 | 7.7% |
| 2014 | 9,375 | 7.1% |
| 2015 | 10,000 | 6.7% |
| 2016 | 10,625 | 6.3% |
| 2017 | 11,250 | 5.9% |
| 2018 | 11,875 | 5.6% |
| 2019 | 12,500 | 5.3% |
| 2020 | 13,125 | 5.0% |
| 2021 | 13,750 | 4.8% |
| 2022 | 14,375 | 4.5% |
| 2023 | 15,000 | 4.3% |
| 2024 | 15,625 | 4.2% |
| 2025 | 16,250 | 4.0% |
Conclusion
Sri Lanka’s economy has seen significant growth over the past decade, with rising incomes and living costs. Despite economic challenges such as inflation and currency fluctuations, income growth has kept pace with expenses. Housing and food costs remain major components of monthly expenditures. While affordability can vary by region, overall, Sri Lanka remains a relatively cost-effective country compared to developed nations.
Sources:
World Bank – Data.worldbank.org
Numbeo – Numbeo.com
OECD (Organisation for Economic Co-operation and Development) –Oecd.org
IMF (International Monetary Fund) – imf.org
