The economy of Sri Lanka shrank 1.6 percent year-on-year in the first quarter of 2020, following a 2 percent growth in the previous period. That was the first economic contraction since available records began in the third quarter of 2003, as the Covid-19 crisis and associated containment measures weighed on economic activity, in particular hitting industrial activity (-7.8 percent vs 1.4 percent in Q4) and agriculture (-5.6 percent vs -4.1 percent). Meanwhile, services expanded modestly (3.1 percent vs 2.7 percent), boosted by wholesale and retail trade (4.1 percent vs 4 percent); IT programming consultancy and related (9.6 percent vs 8.2 percent) and financial activities (9 percent vs 0.1 percent). In contrast, a sharp decline was recorded in the tourism sector as reflected in accommodation, food & beverage services (-6.2 percent vs -5.4 percent), following the cancellation of all passenger flights from late March to prevent the spread of the coronavirus pandemic. source: Department of Census and Statistics - Sri Lanka

GDP Annual Growth Rate in Sri Lanka averaged 5.44 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 -1.60 percent in the first 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 December of 2020.

GDP Annual Growth Rate in Sri Lanka is expected to be 0.50 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 5.50 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
-1.60 2.00 16.12 -1.60 2003 - 2020 percent Quarterly
Constant Prices 2010


Calendar GMT Actual Previous Consensus TEForecast
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%
2020-04-01 11:00 AM Q4 2% 2.4% 2.9%
2020-08-04 11:00 AM Q1 -1.6% 2% 1.2%
2020-12-15 11:00 AM Q3 0.5%
2020-12-15 11:00 AM Q2 -1.6% -2.5%
2021-04-01 11:00 AM Q4
2021-08-04 11:00 AM Q1
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Sri Lanka GDP Contracts for 1st Time since 2003
The economy of Sri Lanka shrank 1.6 percent year-on-year in the first quarter of 2020, following a 2 percent growth in the previous period. That was the first economic contraction since available records began in the third quarter of 2003, as the Covid-19 crisis and associated containment measures weighed on economic activity, in particular hitting industrial activity (-7.8 percent vs 1.4 percent in Q4) and agriculture (-5.6 percent vs -4.1 percent). Meanwhile, services expanded modestly (3.1 percent vs 2.7 percent), boosted by wholesale and retail trade (4.1 percent vs 4 percent); IT programming consultancy and related (9.6 percent vs 8.2 percent) and financial activities (9 percent vs 0.1 percent). In contrast, a sharp decline was recorded in the tourism sector as reflected in accommodation, food & beverage services (-6.2 percent vs -5.4 percent), following the cancellation of all passenger flights from late March to prevent the spread of the coronavirus pandemic.
2020-08-04
Sri Lanka GDP Growth Slows to 2% in Q4
The economy of Sri Lanka expanded 2 percent year-on-year in the last three months of 2019, below a downwardly revised 2.4 percent growth in the previous period. Production in agriculture, forestry and fishing fell 4.1 percent (+1 percent in Q3) and industrial activity slowed (1.4 percent vs 3.5 percent) while the services sector rose 2.7 percent, faster than 2.1 percent in Q3. Considering full 2019, the economy advanced 2.3 percent, well below 3.3 percent in 2018.
2020-04-01
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 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.