The Sri Lanka economy advanced 2.7 percent year-on-year in the third quarter of 2019, up from a revised 1.5 percent in the prior period. The growth was mainly boosted by an increase in services (2.8 percent compared to 1.6 percent in Q2), particularly wholesale and retail trade (2.1 percent vs 1.2 percent) and industrial activities (3.3 percent vs 1.3 percent). On the other hand, agriculture, forestry and fishing output slowed (0.4 percent vs 0.7 percent). GDP Annual Growth Rate in Sri Lanka averaged 5.60 percent from 2003 until 2019, reaching an all time high of 16.12 percent in the first quarter of 2012 and a record low of 0.50 percent in the fourth quarter of 2013. source: Department of Census and Statistics - Sri Lanka
GDP Annual Growth Rate in Sri Lanka is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Sri Lanka to stand at 3.80 in 12 months time. In the long-term, the Sri Lanka GDP Annual Growth Rate is projected to trend around 4.50 percent in 2020, according to our econometric models.