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The economy of Ceylon was mainly agriculture-based, with key exports consisting of tea, rubber, and coconuts. These did well in the foreign markets, accounting for 90% of the export share by value. [11] In 1965, Ceylon became the world's leading exporter of tea, with 200,000 tonnes of tea being shipped internationally annually. [12]
The Ceylon Independence Act 1947 transformed the British Crown Colony of Ceylon into an independent sovereign state known as the Dominion of Ceylon. Upon independence in 1948, King George VI became the monarch of Ceylon and reigned until his death in 1952; he was succeeded by his elder daughter Queen Elizabeth II .
It succeeded when, on 4 February 1948, Ceylon was granted independence as the Dominion of Ceylon. Dominion status within the British Commonwealth was retained for the next 24 years until 22 May 1972 when it became a republic and was renamed the Democratic Socialist Republic of Sri Lanka .
The governor was the head of the British colonial administration in Ceylon, reporting to the Colonial Office. With Ceylon gaining self-rule and dominion status with the creation of Dominion of Ceylon in 1948, this office was replaced by the Governor-General, who represented the British monarch as the head of state.
1948 in Sri Lanka marks the turn from the British Ceylon period to independent modern Sri Lanka. The year saw Sri Lanka, then known as British Ceylon , regain its independence from the British Empire , thus establishing the Dominion of Ceylon .
From 1948 to 1972, the nation was known as the Dominion of Ceylon, with its national day, known as Sri Lanka Independence Day being held annually on 4 February. [11] [12] It declared itself a republic on 22 May 1972. [13] Yearly, the National Heroes are celebrated on this day. [14] [15]
Dominion status followed on 4 February 1948 with military treaties with Britain, as the upper ranks of the armed forces were initially British, and British air and sea bases remained intact. This was later raised to independence itself and Senanayake became the first Prime Minister of Sri Lanka.
During August–September 1945 Senanayake argued that the limits on Ceylon's external sovereignty (defence and external affairs), adhered to by the Soulbury report were unworkable and unnecessary. Senanayake suggested the confirmation of Dominion status by an Order in Council, and delivered a draft to G. H. Hall, the new Secretary to the Colonies.