SMEs and Corporates

Over 200,000 SMEs ceased operations between 2018–2022, says Deputy Minister

A.R.B.J Rajapaksha
Apr 09 2026
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Over 200,000 SMEs in Sri Lanka closed between 2018 and 2022, according to Deputy Minister of Finance and Planning, Anil Jayantha Fernando.

He stated that approximately 108,000 businesses shut down directly due to the ongoing economic crisis, while another 155,000 closed for various other reasons.

Data from the Department of Census and Statistics shows that Sri Lanka had about 1.3 million registered institutions during this period, with around 1.037 million still operational.

The last comprehensive listing of institutions was conducted in 2013, with updates occurring every ten years.

Source -The Morning