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.

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Sri Lanka GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.30 1.30 16.12 -16.40 2003 - 2021 percent Quarterly
Constant Prices 2010


Calendar GMT Actual Previous Consensus TEForecast
2020-12-15 02:30 PM Q2 -16.3% -1.6% -2.5%
2020-12-15 02:30 PM Q3 1.5% -16.3% 0.5%
2021-03-16 02:15 PM Q4 1.3% 1.5%
2021-08-04 10:00 AM Q1 4.3% 1.3% 1.5%
2021-12-15 11:00 AM Q3
2021-12-15 11:00 AM Q2 4.3%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Sri Lanka GDP Growth Strongest since 2016
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).
2021-08-04
Sri Lanka GDP Growth Slows to 1.3% in Q4
Sri Lanka's gross domestic product expanded 1.3 percent year-on-year in the fourth quarter of 2020, following a 1.5 percent advance in the previous period. Considering full 2020, the economy contracted 3.6 percent due to agriculture, industry and the services sector.
2021-03-16
Sri Lanka GDP Rebounds in Q3
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).
2020-12-15

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.