The economy of Sri Lanka expanded 1.5 percent year-on-year in the third quarter of 2020, following a record 16.3 percent contraction in the previous period, due to the normalization of business activities after the first wave of the covid-19 pandemic. Positive growth rates were recorded for agriculture (4.3 percent), manufacturing (5.3 percent), information and communication (15.4 percent), financial and insurance (10.7 percent), real estate (3.1 percent) and professional, scientific, technical, administration and supporting service activities (1.5 percent). In contrast, the activity declined for wholesale and retail trade, transportation and storage, accommodation and food service activities (-0.8 percent) and construction (-9.1 percent). source: Department of Census and Statistics - Sri Lanka
GDP Annual Growth Rate in Sri Lanka averaged 5.07 percent from 2003 until 2020, reaching an all time high of 16.12 percent in the first quarter of 2012 and a record low of -16.30 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 February of 2021.
GDP Annual Growth Rate in Sri Lanka is expected to be 2.10 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 2.10 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.