Sri Lanka records 2.3% negative GDP growth in 2023

March 17, 2024 11:58 am

The GDP growth rate of Sri Lanka for the year 2023 was estimated as a 2.3 percent negative growth rate, the Department of Census and Statistics (DCS) said in a statement.

Overall, agricultural activities expanded by 2.6 percent, while industrial and service activities contracted by 9.2 percent and 0.2 percent, respectively, in the year 2023, the DCS said.

The three major economic activities of the economy agriculture, industry, and services, contributed their shares to the GDP, at current prices, by 8.3 percent, 25.6 percent and 59.9 percent respectively.

The “taxes less subsidies on products” component accounted for a 6.2 percent share of the GDP in 2023.

—Xinhua

--Agencies

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