The economy of Sri Lanka advanced by 4.3 percent year-on-year in the first quarter of 2021, following a 1.3 percent rise in the previous period. It was the fastest expansion since the last quarter of 2016, as the economy continued to carry out most of the business activities, even under the Covid-19 imposed restrictions amidst the second wave of Covid-19. The expansion was mainly driven by agriculture (6.1 percent vs 1.3 percent in Q4) and industry (5.5 percent vs 1.3 percent), due to the fact that despite the occasional restrictions on the control of the virus, it has been allowed to engage in agricultural activities and to keep industrial establishments open and productive. The services sector also contributed positively to growth (3 percent vs 1.9 percent), despite continued weakness in tourism and entertainment related activities (-31.9 percent vs -49.1 percent). source: Department of Census and Statistics - Sri Lanka
GDP Annual Growth Rate in Sri Lanka averaged 5 percent from 2003 until 2021, reaching an all time high of 16.12 percent in the first quarter of 2012 and a record low of -16.40 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 September of 2021.
GDP Annual Growth Rate in Sri Lanka is expected to be 2.50 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 4.50 percent in 2022, according to our econometric models.