Sri Lanka's GDP rose 4.5% year-on-year in the fourth quarter of 2023, expanding further from a 1.6% growth in the previous quarter. Increases were seen in agriculture (0.6%), manufacturing, mining & quarrying (9.4%), construction (4%), wholesale and retail trade (3.6%) and financial & insurance activities (13%). On the other hand, information & communication declined (-8.7%) as well as public administration, defense, education, human health & social work activities (-0.6%). Considering full 2023, the economy contracted 2.3% as the country battles a big financial crisis, although foreign currency inflows through remittances and a boom in tourism in the second half of the year have been helping. source: Department of Census and Statistics - Sri Lanka
The Gross Domestic Product (GDP) in Sri Lanka expanded 4.50 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Sri Lanka averaged 3.93 percent from 2003 until 2023, reaching an all time high of 16.12 percent in the first quarter of 2012 and a record low of -17.10 percent in the second quarter of 2020. This page provides the latest reported value for - Sri Lanka GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Sri Lanka GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.
The Gross Domestic Product (GDP) in Sri Lanka expanded 4.50 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Sri Lanka is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka GDP Annual Growth Rate is projected to trend around 4.00 percent in 2025, according to our econometric models.