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Sri Lanka's economy in numbers:
Nominal GDP of USD 74.2 billion in 2022.
Nominal GDP of USD 84.3 billion in 2023.
GDP per capita of USD 3,824 compared to the global average of USD 10,589.
GDP per capita of USD 3,347 compared to the global average of USD 10,589.
Average real GDP growth of 2.5% over the last decade.
Average real GDP growth of 1.5% over the last decade.
Economic structure:
In 2021, services accounted for 63% of overall GDP, manufacturing 18%, other industrial activity 10%, and agriculture 9%. Looking at GDP by expenditure, private consumption accounted for 70% of GDP in 2021, government consumption 10%, fixed investment 28%, and net exports -8%.International trade:
In 2021, manufactured products made up 69% of total merchandise exports, mineral fuels 2%, food 26%, ores and metals 1% and agricultural raw materials 3%, with other categories accounting for -1% of the total. In the same period, manufactured products made up 67% of total merchandise imports, mineral fuels 16%, food 13%, ores and metals 2% and agricultural raw materials 2%, with other goods accounting for 0% of the total. Total exports were worth USD 13 billion in 2022, while total imports were USD 18 billion.Economic growth:
The economy recorded average annual growth of 2.5% in the decade to 2022. To read more about GDP growth in Sri Lanka, go to our dedicated page.
Fiscal policy:
Sri Lanka's fiscal deficit averaged 7.2% of GDP in the decade to 2021. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 4.5% in the decade to 2022. For more information on Sri Lanka's unemployment click here.
Inflation:
Inflation averaged 8.5% in the decade to 2022. Go to our Sri Lanka inflation page for extra insight.
Monetary Policy:
Sri Lanka's monetary policy rate ended 2022 at 15.50%, up from 9.50% a decade earlier. See our Sri Lanka monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the rupee weakened by 65.3% vs the U.S. dollar. For more info on the rupee, click here.
46 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 16 expert analysts.
Want to get insight on the economic outlook for Sri Lanka in the coming years? FocusEconomics collects projections out to 2034 on 46 economic indicators for Sri Lanka from a panel of 16 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Sri Lanka economy. To download a sample report on the Sri Lanka's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.