Sri Lanka’s GDP contracted by 11.8% in third quarter 2022
December 15, 2022 05:05 pm
The Department of Census and Statistics (DCS) Sri Lanka, has released the estimated Gross Domestic Product (GDP) at current price and at constant (2015) price in Production approach and the other macroeconomic indicators for the third quarter (July 01 - September 30) of 2022.
The Gross Domestic Product for Sri Lanka for the third quarter of year 2022 at current price reported as Rs. 6,417,031 million.
The Gross Domestic Product for Sri Lanka for the third quarter of year 2022 at constant price (2015) reported as Rs. 2,884,018 million.
In the third quarter of year 2022, the percentage change of current price GDP reported as 45.2 percent and the year on year GDP growth rate reported as negative 11.8 percent.
The overall Agriculture, Industry and Services activities declined by 8.7 percent, 21.2 percent and 2.6 percent respectively, in the third quarter of 2022.
Issuing a communiqué, on releasing National Accounts Estimates, the DCS states that the year on year GDP growth rate for the third quarter of 2022 has been estimated as 11.8 percent of negative growth rate.
Accordingly, the Gross Domestic Product for Sri Lanka for the third quarter of year 2022 at constant price (2015) has declined up to Rs. 2,884,018 million from Rs. 3,269,510 million which recorded in the third quarter of year 2021.
