Economic Indicators

ANNUAL GDP GROWTH RATE

The Gross Domestic Product (GDP) in Sri Lanka expanded 4.50 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Sri Lanka averaged 3.93 percent from 2003 until 2023, 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.


GOVERNMENT DEBT

Government Debt in Sri Lanka increased to 28695949 LKR Million in the fourth quarter of 2023 from 28020010 LKR Million in the third quarter of 2023. Government Debt in Sri Lanka averaged 9700135.92 LKR Million from 1990 until 2023, reaching an all time high of 28695949.00 LKR Million in the fourth quarter of 2023 and a record low of 310779.00 LKR Million in the fourth quarter of 1990.


BALANCE OF TRADE

Sri Lanka recorded a trade deficit of 369 USD Million in March of 2024. Balance of Trade in Sri Lanka averaged -499.13 USD Million from 2002 until 2024, reaching an all time high of 541.10 USD Million in January of 2024 and a record low of -1100.65 USD Million in November of 2011.


PRIME LENDING RATES

Bank Lending Rate in Sri Lanka decreased to 11.42 percent in February from 11.91 percent in January of 2024. Bank Lending Rate in Sri Lanka averaged 12.89 percent from 1997 until 2024, reaching an all time high of 27.89 percent in November of 2022 and a record low of 5.51 percent in June of 2021


EXPORTS

Exports in Sri Lanka is expected to be 1110.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka Exports is projected to trend around 1620.00 USD Million in 2025, according to our econometric models.


TOURIST ARRIVALS

Tourist Arrivals in Sri Lanka decreased to 148867 in April from 209181 in March of 2024. Tourist Arrivals in Sri Lanka averaged 54551.41 from 1977 until 2024, reaching an all time high of 253169.00 in December of 2018 and a record low of 0.00 in April of 2020.


RUBBER PRICES

Rubber increased 13.20 US Cents/kg or 8.46% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Rubber reached an all time high of 526.40 in February of 2011.


CRUDE OIL

Crude Oil increased 8.35 USD/BBL or 11.65% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Crude Oil reached an all time high of 147.27 in July of 2008.


MANUFACTURING PMI

Manufacturing PMI in Sri Lanka decreased to 42 points in April from 62.50 points in March of 2024. Manufacturing PMI in Sri Lanka averaged 53.02 points from 2015 until 2024, reaching an all time high of 67.30 points in May of 2015 and a record low of 24.20 points in April of 2020. source: Central Bank of Sri Lanka
GROSS DOMESTIC PRODUCT (GDP)

GDP in Sri Lanka is expected to reach 76.86 USD Billion by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka GDP is projected to trend around 79.54 USD Billion in 2025 and 82.33 USD Billion in 2026, according to our econometric models.


FOREGIEN EXCHANGE RESERVES

Foreign Exchange Reserves in Sri Lanka increased to 4916 USD Million in March from 4482 USD Million in February of 2024. Foreign Exchange Reserves in Sri Lanka averaged 5180.84 USD Million from 2004 until 2024, reaching an all time high of 9935.80 USD Million in April of 2018 and a record low of 1272.10 USD Million in March of 2009. source: Central Bank of Sri Lanka


BENCHMARK INTEREST RATES

The benchmark interest rate in Sri Lanka was last recorded at 8.50 percent. Interest Rate in Sri Lanka is expected to be 8.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka Interest Rate is projected to trend around 6.00 percent in 2025, according to our econometric models.


COLOMBO STOCK MARKET

The Sri Lanka Stock Market (CSE All Share) is expected to trade at 12256.82 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 11846.48 in 12 months time.


FOREIGN DIRECT INVESTMENTS

Foreign Direct Investment in Sri Lanka increased by 250.90 USD Million in the fourth quarter of 2023. Foreign Direct Investment in Sri Lanka averaged 162.97 USD Million from 2001 until 2023, reaching an all time high of 961.38 USD Million in the fourth quarter of 2017 and a record low of 20.00 USD Million in the second quarter of 2001. source: Central Bank of Sri Lanka


FOREIGN REMITTANCES

Remittances in Sri Lanka increased to 572.40 USD Million in March from 476.20 USD Million in February of 2024. Remittances in Sri Lanka averaged 497.47 USD Million from 2009 until 2024, reaching an all time high of 812.70 USD Million in December of 2020 and a record low of 204.90 USD Million in February of 2022.


UNEMPLOYMENT RATE
Unemployment Rate in Sri Lanka decreased to 4.30 percent in the fourth quarter of 2023 from 4.70 percent in the third quarter of 2023. Unemployment Rate in Sri Lanka averaged 7.37 percent from 1991 until 2023, reaching an all time high of 16.60 percent in the second quarter of 1992 and a record low of 3.70 percent in the fourth quarter of 2013.

SALES TAX



TOURISM REVENUE

Tourism Revenues in Sri Lanka decreased to 338.40 USD Million in March from 345.70 USD Million in February of 2024. Tourism Revenues in Sri Lanka averaged 175.84 USD Million from 2009 until 2024, reaching an all time high of 475.20 USD Million in December of 2018 and a record low of 0.50 USD Million in December of 2020.

KEY INDICATORS

Full Year GDP Growth
GDP
GDP Constant Prices
GDP From Agriculture
GDP From Construction
GDP From Manufacturing
GDP From Mining
GDP From Public Administration
GDP From Services
GDP From Transport
GDP From Utilities
GDP Growth Rate YoY
GDP Per Capita
GDP Per Capita PPP
Gross Fixed Capital Formation
Gross National Product


GDP PER CAPITA INCOME

The Gross Domestic Product per capita in Sri Lanka was last recorded at 3988.08 US dollars in 2022. The GDP per Capita in Sri Lanka is equivalent to 32 percent of the world’s average. GDP per Capita in Sri Lanka averaged 1886.32 USD from 1961 until 2022, reaching an all time high of 4495.71 USD in 2018 and a record low of 651.56 USD in 1961.


INFLATION

Inflation Rate in Sri Lanka increased to 1.50 percent in April from 0.90 percent in March of 2024. Inflation Rate in Sri Lanka is expected to be 3.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka Inflation Rate is projected to trend around 9.00 percent in 2025, according to our econometric models.


EXCHANGE RATE MOVEMENT


IMPORTS

Imports in Sri Lanka is expected to be 1510.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka Imports is projected to trend around 2210.00 USD Million in 2025, according to our econometric models.


GOLD RESERVES


Gold Reserves in Sri Lanka remained unchanged at 0.47 Tonnes in the fourth quarter of 2023 from 0.47 Tonnes in the third quarter of 2023. Gold Reserves in Sri Lanka averaged 11.26 Tonnes from 2000 until 2023, reaching an all time high of 23.10 Tonnes in the third quarter of 2014 and a record low of 0.47 Tonnes in the fourth quarter of 2022.


TEA PRICES


CAR REGISTRATIONS

Car Registrations in Sri Lanka decreased to 92 Units in March from 127 Units in February of 2024. Car Registrations in Sri Lanka averaged 2166.21 Units from 1997 until 2024, reaching an all time high of 15017 Units in September of 2015 and a record low of 41 Units in November of 2022. source: Central Bank of Sri Lanka


GOVERNMENT SPENDING

Government Spending in Sri Lanka increased to 1893103.50 LKR Million in 2023 from 1727261.20 LKR Million in 2022. Government Spending in Sri Lanka averaged 280839.14 LKR Million from 1950 until 2023, reaching an all time high of 1893103.50 LKR Million in 2023 and a record low of 440.00 LKR Million in 1950. source: Central Bank of Sri Lanka