Sri Lanka’s GDP contracts by 1.6% in 1Q 2020. 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. However, the Gross Domestic Product for Sri Lanka for the first quarter of 2020 at current price has increased marginally, up to Rs. This page has economic forecasts for Sri Lanka including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Sri Lanka economy. The Trading Economics Application Programming Interface (API) provides direct access to our data. © 2001-2017 Lanka Business Online (Pvt) Ltd. All rights reserved. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Designed by Lanka Business Online (Pvt) Ltd. Sri Lanka gdp … 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. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Sri Lanka gdp growth rate for 2019 was 2.28%, a 1.02% decline from 2018. For a few countries where the official exchange rate does not reflect the rate effectively … The Department of Census and Statistics, releasing preliminary national accounts estimates, said yesterday that the he Department of Census and Statistics, releasing preliminary national accounts estimates, said yesterday that the Gross Domestic Product for Sri Lanka for the first quarter of 2020 at constant (2010) price has declined, down to Rs. Aggregates are based on constant 2010 U.S. dollars. COLOMBO (News1st): Sri Lanka’s economic growth for the first quarter of 2020 has dwindled drastically to minus 1.5 percent compared to 3.7 percent during 2019’s first quarter, official data show. 2,330,053 million recorded in the first quarter of 2019. ... Sri Lanka - Economic Forecasts - 2020-2022 Outlook. GDP in Sri Lanka is expected to reach 82.00 USD Billion by the end of 2020, according to Trading Economics global macro models and analysts expectations. GDP Growth Rate in Sri Lanka is expected to be 5.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Please check your download folder. Direct access to our calendar releases and historical data. 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). 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. The four major components of the economy, ‘Agriculture’, ‘Industry’, ‘Services’ and ‘Taxes less subsidies on products’ have contributed their share to the GDP at current prices by 7.3%, 28.4%, 58.3%, and 6.0% respectively, in the first quarter of 2020. Annual percentage growth rate of GDP at market prices based on constant local currency. 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. Industry accounts for 30 percent of total output. Within industry, manufacturing represents 18 percent of GDP and mining and construction account for 10 percent. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Please check your download folder. 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). In Sri Lanka, services are the biggest sector of the economy and account for 58 percent of total GDP. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Download historical data for 20 million indicators using your browser. 2,292,589 million from Rs. Aug 06, 2020 (LBO) – Sri Lanka’s GDP growth rate for the first quarter of 2020 has been estimated as 1.6 percent of negative growth rate, when compared to the 3.7 percent of positive growth recorded in the first quarter of 2019. However, this year, due to the COVID-19 impact, DCS faced many difficulties and challenges in gathering data and information during the months of May and June from the Government, semi-Government and private sector institutions in the country. On the other hand, agriculture, forestry and fishing output slowed (0.4 percent vs 0.7 percent). Sri Lanka GDP Growth Rate - values, historical data and charts - was last updated on October of 2020. Department of Census and Statistics - Sri Lanka, Sri Lanka Holds Interest Rates Unchanged at 4.5%, Sri Lanka Services Growth Slows in September, Sri Lanka Factory Activity Rises at a Faster Pace, Sri Lanka Producer Inflation Eases Slightly, Sri Lanka Tourist Arrivals Halt for 6th Month, Sri Lanka Posts Lowest Trade Gap since 2009, Sri Lanka GDP Contracts for 1st Time since 2003, Sri Lanka Q1 Current Account Balance Shifts to Gap, TSX Drops on Friday, Books 4.5% Weekly Loss, Brent Crude Down for 3rd Day to Book Biggest Weekly Loss since April, WTI Crude Tumbles 11% in October on Demand Concerns, Kenya October Inflation Rate at 5-Month High of 4.84%. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. COLOMBO (News1st): Sri Lanka’s central bank has predicted that the country’s economic growth will decline to 1.5 percent in 2020, due to the impact of … 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 … If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. 2003-2020 Data | 2021-2022 Forecast | Calendar. The remaining 12 percent is contributed by agriculture, livestock, forestry and fishing. 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). 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. In the long-term, the Sri Lanka GDP is projected to trend around 88.00 USD Billion in 2021 and 97.00 USD Billion in 2022, according to our econometric models. Sri Lanka Inflation Rate Rises to 3-Month High of 4.2% 2020-07-31 Sri Lanka Inflation Rate at Near 1-Year Low of 3.9% 2020-06-30 Sri Lanka Inflation Rate In Sri Lanka, the Consumer Price Index (CPI) is composed of two main groups: Food items (41 percent) and Non-food items (59 percent). 3,773,551 million recorded in the first quarter of 2019, registering 1.9% of change in the current price GDP estimate. Accordingly, the first quarter GDP estimates should have been released on 19 June 2020. Aug 06, 2020 (LBO) – Sri Lanka’s GDP growth rate for the first quarter of 2020 has been estimated as 1.6 percent of negative growth rate, when compared to the 3.7 percent of positive growth recorded in the first quarter of 2019. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. Publish your articles and forecasts in our website. 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). 10Y. Considering full 2019, the economy advanced 2.3 percent, well below 3.3 percent in 2018. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. The GDP release dates are published in the Advance Data Release Calendar (ADRC) of the Department website. LBO is the pioneer and leader in online business and economics news in Sri Lanka, LBO brings you a more comprehensive online news experience, integrating a host of interactive tools to keep you better informed. 3,845,900 million from Rs. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete.
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