The economy of Sri Lanka shrank 12.4% year-on-year in the fourth quarter of 2022, the second-worst contraction on record as the country’s ongoing economic crisis worsened. The Sri Lankan economy grappled with soaring inflation, depleted reserves of strong currencies, shortages of energy and fertilizers, and a debt crisis that worsened after the government defaulted on debt in the second quarter. The economic downturn mainly pressured the industrial sector of the economy, plunging 30.1% in the fourth quarter, while services fell by 3.9%. Considering the full year, the Sri Lankan GDP sank by 7.8%, the most on record.
Full Year GDP Growth in Sri Lanka averaged 1.78 percent from 2014 until 2022, reaching an all time high of 5.00 percent in 2015 and a record low of -7.80 percent in 2022. This page includes a chart with historical data for Sri Lanka Full Year Gdp Growth. Sri Lanka Full Year Gdp Growth - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.