The Sri Lanka economy advanced 2.7 percent year-on-year in the third quarter of 2019, up from a revised 1.5 percent in the prior period. The growth was mainly boosted by an increase in services (2.8 percent compared to 1.6 percent in Q2), particularly wholesale and retail trade (2.1 percent vs 1.2 percent) and industrial activities (3.3 percent vs 1.3 percent). On the other hand, agriculture, forestry and fishing output slowed (0.4 percent vs 0.7 percent). Sri Lanka GDP Annual Growth Rate - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

GDP Annual Growth Rate in Sri Lanka averaged 5.60 percent from 2003 until 2019, reaching an all time high of 16.12 percent in the first quarter of 2012 and a record low of 0.50 percent in the fourth quarter of 2013. 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. source: Department of Census and Statistics - Sri Lanka

GDP Annual Growth Rate in Sri Lanka is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Sri Lanka to stand at 3.80 in 12 months time. In the long-term, the Sri Lanka GDP Annual Growth Rate is projected to trend around 4.00 percent in 2021 and 4.50 percent in 2022, according to our econometric models.


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Sri Lanka GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.70 1.50 16.12 0.50 2003 - 2019 percent Quarterly
Constant Prices 2010


Calendar GMT Actual Previous Consensus TEForecast
2019-03-19 11:00 AM Q4 1.8% 3.5% 2%
2019-06-18 11:45 AM Q1 3.5% 1.8% 2.7%
2019-09-18 12:00 PM Q2 1.6% 3.5% 2%
2019-12-18 10:20 AM Q3 2.7% 1.5% 2.5%
2020-03-15 11:00 AM Q4 2.7% 2.9%
2020-06-18 11:45 AM Q1 3.5%
2020-09-18 12:00 PM Q2 3.1%
2020-12-14 11:00 AM Q3 3.9%


News Stream
Sri Lanka GDP Growth Accelerates to 2.7% in Q3
The Sri Lanka economy advanced 2.7 percent year-on-year in the third quarter of 2019, up from a revised 1.5 percent in the prior period. The growth was mainly boosted by an increase in services (2.8 percent compared to 1.6 percent in Q2), particularly wholesale and retail trade (2.1 percent vs 1.2 percent) and industrial activities (3.3 percent vs 1.3 percent). On the other hand, agriculture, forestry and fishing output slowed (0.4 percent vs 0.7 percent).
2019-12-18
Sri Lanka GDP Growth at Over 5-Year Low
The economy of Sri Lanka grew by 1.6 percent year-on-year in the second quarter of 2019, easing from a 3.7 percent expansion in the previous three-month period. That was the weakest growth rate since the first quarter of 2014 due to a slowdown in overall activity following the Easter Sunday attacks. Wholesale and retail trade, transportation and storage, accommodation and food service activities, which account for nearly 25 percent of total GDP, shrank 0.6 percent, after a 3.3 percent advance in Q1. In addition, output rose at a softer pace for: manufacturing, mining and quarrying and other industry (1 percent vs 1.8 percent); financial and insurance activities (8 percent vs 9.6 percent); public administration, defense, education, human health and social work activities (0.6 percent vs 2.1 percent); other services (1.5 percent vs 4.6 percent); and agriculture, forestry & fishing (1 percent vs 5.5 percent).
2019-09-18
Sri Lanka Q4 GDP Growth Weakest since 2014
The economy of Sri Lanka advanced 1.8 percent year-on-year in the fourth quarter of 2018, slowing from an upwardly revised 3.5 percent expansion the prior period. It was the weakest growth rate since the first quarter of 2014, as the industrial sector shrank (-3.6% vs 3.1% in Q3) namely construction (-10.1% vs 4.9%), machinery & equipment (-1.9% vs 1.1%), mining & quarrying (-14.9% vs -1.1%), production of paper, printing and reproduction of media (-11.7% vs -5.1%), and chemicals & pharmaceutical products (-9.4% vs -2.7%). Meantime, services activities grew 4.3 percent, the same pace as in the previous quarter, mostly driven by transportation (3.3% vs 1.3%), financial services (12.6% vs 11.5%), insurance (22.4% vs 5.1%) and education (5% vs 1.3%). Also, agriculture, forestry & fishing increased 4.5 percent, higher than a 4 percent expansion in the third quarter. Considering full 2018, the economy grew 3.2 percent, easing from a 3.4 percent expansion in 2017.
2019-03-19

Sri Lanka GDP Annual Growth Rate
In Sri Lanka, services are the biggest sector of the economy and account for 58 percent of total GDP. Within services the most important segments are: wholesale and retail trade (21 percent); transport and communication (13 percent) and banking, insurance and real estate (11 percent). Industry accounts for 30 percent of total output. Within industry, manufacturing represents 18 percent of GDP and mining and construction account for 10 percent. The remaining 12 percent is contributed by agriculture, livestock, forestry and fishing.