Sri Lanka GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

-12.4

Units In

-11.8

Frequency

Quarterly

Next Release

Jun 13, 2025

Time to Release

2 Months 24 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
16.12 Mar 2012	-16.4 Jun 2020	4.27 %	2003-2022	Department of Census and Statistics - Sri Lanka

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.

Latest Updates

Sri Lanka's economy grew by 5.4% year-on-year in the fourth quarter of 2024, following a downwardly revised 5.3% expansion in the previous period. This marked the fastest pace of growth since the second quarter of 2021, driven by a 13.1% surge in industrial production (compared to 10.1% in Q3 2024) and a solid 2.5% increase in services output (compared to 2.6% in Q3). In contrast, agricultural activities contracted by 2.2%, partially reversing the 3.7% growth seen in the previous quarter. For the full year of 2024, the economy expanded by 5.0%, following two consecutive periods of contraction.