Sri Lanka too is affected with the global recession, as the demand for their major products such as garments, tea, rubber, coconut based products and agricultural products are at a downturn. At the moment, tea is severely affected and the country is experiencing 35% drop in the exports presently. Also, the tourist industry has downsized; last year, there was a 7% downsize to the industry, primarily due to the loss of European tourists.
Read more about this topic: Late-2000s Recession In Asia, South Asia