28 April 2017 09:51 am
Sri Lanka experienced a marginal year-on-year decline in its per capita gross domestic product (GDP) in US dollar terms at current market prices in 2016 in a year highlighted by continuous natural disasters and a weakening rupee.
According to latest Central Bank figures, per capita GDP fell to US$ 3,835 from US$ 3,843 YoY, a 0.2 percent decline.
Although GDP increased to US$ 81.3 billion from US$ 80.6 billion YoY, population grew at a faster pace of 1.1 percent in 2016, compared to 0.9 percent each in 2014 and 2015, contributing to the reduction in the per capita GDP figure. In rupee terms however, per capita GDP increased to Rs. 558,363 from Rs. 522,355 YoY, while GDP increased to Rs. 11,839 billion from Rs. 10,952 billion YoY.
The rupee fell by 3.8 percent against the US dollar in 2016.