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The mixed economy of Sri Lanka was worth $84 billion by nominal gross domestic product (GDP) in 2019 and $296.959 billion by purchasing power parity (PPP). The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers.
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Apr 1, 2024 · Sri Lanka’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. But, the country still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank's latest bi-annual update.
Oct 4, 2023 · The economy contracted by 7.8 percent in 2022 and 7.9 percent in the first-half of 2023. Construction, manufacturing, real estate, and financial services suffered the most amid shrinking private credit, shortages of inputs, and supply chain disruptions, worsening the negative welfare impacts of income contractions and job losses registered in 2022.
Oct 3, 2023 · The report reviews the economic crisis and reforms in Sri Lanka, and projects the outlook for growth, inflation, poverty, and debt. It covers key developments, challenges, and risks for the country's economy in the short and medium term.
Sri Lankan economy rebounded strongly from the COVID-19 pandemic induced contraction in 2020. The real economy grew by 8.0%, y-o-y, in the first half of 2021, registering a broadbased recovery of the major sectors of the economy.
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Mar 29, 2023 · What led to the economic crisis? The government blamed the Covid pandemic, which badly affected Sri Lanka's tourist trade - one of its biggest foreign currency earners.
Sri Lanka's economy grew by 4.3 percent in the first quarter of 2021, compared to the negative growth rate of 1.8 percent reported in the first quarter of 2020.
