ECONOMYNEXT – Sri Lanka’s gross domestic product grew 4.5 percent in the fourth quarter of 2023, the state statistics office said, while the economy was estimated to have shrunk 2.3 percent in the full year.
In the fourth quarter of 2023 Agriculture grew 0.6 percent, Industry 7.9 percent and and Services 2.8 percent.
The economy contracted 12.4 percent in the fourth quarter of 2022, amid monetary instability.
In 2022 Sri Lanka went through the worst currency collapse since the creation of the central bank in 1950, after rates cuts to target potential output, leading to a steep economic contraction.
Monetary stability was restored in the final quarter of 2022, helping economic activities recover.
In the full year 2023, agricultural activities expanded by 2.6 percent, Industry contracted by 9.2 percent and services contracted 0.2 percent
the Gross Domestic Product fourth quarter of 2023 at current prices increased to 7,303,758 million rupees from 6,521,664 million in 2022. (Colombo/Mar15/2024)
https://economynext.com/sri-lanka-gdp-grows-4-5-pct-in-fourth-quarter-down-2-3-pct-in-2023-154837/
