The Department of Census and Statistics (DCS) released a statement on Friday estimating Sri Lanka’s GDP growth rate for 2023 to be 2.3 percent negative.
According to the DCS, overall in 2023, agricultural activities increased by 2.6 percent, while industrial and service activities decreased by 9.2 percent and 0.2 percent, respectively.
At current prices, the GDP was provided by the three main economic sectors of the economy—agriculture, industry, and services—in the following proportions: 8.3%, 25.6 %, and 59.9%, respectively.
The “taxes less subsidies on products” component accounted for a 6.2 percent share of the GDP in 2023.
Nonetheless, the DCS said that the GDP increased by 4.5 percent in the fourth quarter of 2023.
According to the report, the fourth quarter of 2023 saw growth in the agricultural, industrial, and services sectors of 0.6 percent, 7.9 percent, and 2.8 percent, respectively.
