Sri Lanka's economy advanced by 5.5% yoy in Q3 2024, marking the fastest expansion since Q4 2017, as the country continued to recover from its worst financial crisis in decades. Notably, inflationary pressures eased further during the period, coinciding with a decline in interest rates. The expansion was led by a 10.8% surge in the industrial sector, with the construction and mining & quarrying industries posting impressive growths of 23.8% and 25.4%, respectively. Additionally, manufacturing rose by 5.3%, driven by key sub-sectors such as textiles (13.5%), paper products (10.9%), wood products (10.7%), rubber and plastics (9.0%), basic metals (7.2%). Agriculture grew by 3%, on higher production of cereals (46.7%), animals (19.9%), tea (16.3%), marine fishing and aquaculture (9.9%), and fruits (7.3%). The services sector rose by 2.6%, with almost all activities recording growth, primarily accommodation and food services (18.8%) and IT services (16.0%). source: Department of Census and Statistics - Sri Lanka

The Gross Domestic Product (GDP) in Sri Lanka expanded 5.50 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Sri Lanka averaged 4.01 percent from 2003 until 2024, reaching an all time high of 16.12 percent in the first quarter of 2012 and a record low of -17.10 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 January of 2025.

The Gross Domestic Product (GDP) in Sri Lanka expanded 5.50 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Sri Lanka is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-09-13 10:30 AM
GDP Growth Rate YoY
Q2 4.7% 5.3% 1.7%
2024-12-17 10:00 AM
GDP Growth Rate YoY
Q3 5.5% 4.7% 3.6%
2025-03-14 11:30 AM
GDP Growth Rate YoY
Q4 1.5%


Related Last Previous Unit Reference
GDP Growth Rate YoY 5.50 4.70 percent Sep 2024
GDP Constant Prices 3151941.00 2768293.00 LKR Million Sep 2024
GDP from Agriculture 233389.00 236539.00 LKR Million Sep 2024
GDP from Construction 227442.00 209539.00 LKR Million Sep 2024
GDP from Manufacturing 898642.00 777045.00 LKR Million Sep 2024
GDP from Mining 50150.00 44648.00 LKR Million Sep 2024
GDP from Public Administration 148169.00 150377.00 LKR Million Sep 2024
GDP from Services 1824831.00 1580913.00 LKR Million Sep 2024
GDP from Transport 341985.00 282360.00 LKR Million Sep 2024
GDP from Utilities 45317.00 58396.00 LKR Million Sep 2024

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.
Actual Previous Highest Lowest Dates Unit Frequency
5.50 4.70 16.12 -17.10 2003 - 2024 percent Quarterly
Constant Prices 2015


News Stream
Sri Lanka GDP Growth Accelerates to Near 7-Year High
Sri Lanka's economy advanced by 5.5% yoy in Q3 2024, marking the fastest expansion since Q4 2017, as the country continued to recover from its worst financial crisis in decades. Notably, inflationary pressures eased further during the period, coinciding with a decline in interest rates. The expansion was led by a 10.8% surge in the industrial sector, with the construction and mining & quarrying industries posting impressive growths of 23.8% and 25.4%, respectively. Additionally, manufacturing rose by 5.3%, driven by key sub-sectors such as textiles (13.5%), paper products (10.9%), wood products (10.7%), rubber and plastics (9.0%), basic metals (7.2%). Agriculture grew by 3%, on higher production of cereals (46.7%), animals (19.9%), tea (16.3%), marine fishing and aquaculture (9.9%), and fruits (7.3%). The services sector rose by 2.6%, with almost all activities recording growth, primarily accommodation and food services (18.8%) and IT services (16.0%).
2024-12-17
Sri Lanka GDP Grows 4.7% in Q2 2024
Sri Lanka's GDP rose 4.7% year-on-year in the second quarter of 2024, down from a 5.3% growth in the previous quarter, which was the highest in nearly 3 years. Growth was seen across multiple sectors, with agriculture up 1.7%, primarily boosted by an 8.6% rise in animal production and a 7.7% increase in marine fishing. The industrial sector surged 10.9%, driven by significant gains in electricity production (+21.9%), mining and quarrying (+21.5%), construction (+15.5%), and manufacturing (+7%). Additionally, the services sector expanded by 2.5%, with notable contributions from accommodation, food & beverage (+21.1%), insurance (+14.1%), and IT (+14%).
2024-09-13
Sri Lanka GDP Growth Rate Highest in Nearly 3 Years
Sri Lanka's GDP rose 5.3% year-on-year in the first quarter of 2024, accelerating from a 4.5% growth in the previous quarter and recording the highest growth rate since Q2 2021. Growth was seen in mining & quarrying (+18.3%), construction (+14.2%), agriculture (+1.1%), wholesale & retail trade (+1.1%), accommodation, food & beverage service activities (+40.4%) and insurance, reinsurance & pension funding (+17.8%). In contrast, IT programming consultancy & related activities shrank (-5.2%) as well as public administration, defense & compulsory social security (-4.2%).
2024-06-14