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Trade
Exports to the United States, Sri Lanka's most important market, were estimated at $1.8 billion in 2003, or 38.5% of total exports. For many years, the United States has been Sri Lanka's biggest market for garments, taking more than 63% of the country's total garment exports. India is Sri Lanka's largest supplier, with exports of $835 million in 2002. Japan, traditionally Sri Lanka's largest supplier, was its fourth-largest in 2002 with exports of $355 million. Other leading suppliers include Hong Kong, Singapore, Taiwan, and South Korea. United States exports amounted to $155 million in 2003. Sri Lanka is highly dependent on foreign assistance, and several high-profile assistance projects were launched in 2003. The most significant of these resulted from an aid conference in Tokyo in June 2003; pledges at the summit, which included representatives from the IMF, World Bank, Asian Development Bank, Japan, the European Union, and the United States totaled $4.5 billion. This funding was in response to a poverty reduction strategy program laid out in "Regaining Sri Lanka," an action paper authored by the Sri Lankan Government, and a number of studies commissioned by the donor community that, together, provide a basic framework for economic revival. While implementation of previous aid projects has been spotty, the government believes it can improve this record by streamlining tender processes and improving project management skills.
The United States is currently leading the international efforts for tsunami relief and reconstruction. In addition to pledging $350 million to tsunami-affected countries, more than 15,000 U.S. military personnel were involved in providing relief support in the affected region. Twenty-five ships and 94 aircraft were participating in the effort. The U.S. military had delivered about 2.2 million pounds of relief supplies to affected nations, including 16,000 gallons of water, 113,000 pounds of food, and 140,500 pounds of relief supplies. USAID disbursed an additional $78 million.
