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Economy contracts 11.5% in 1Q

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15 June 2023 05:56 pm - 9     - {{hitsCtrl.values.hits}}

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Sri Lanka’s Gross Domestic Product (GDP) is estimated to have contracted 11.5 percent in the first quarter of 2023 from a year ago, the Department of Census and Statistics said, today.

During the quarter under review, agricultural activities expanded by 0.8 percent from a year ago while industry and services declined by 23.4 percent and 5 percent, respectively. 

Sri Lanka’s economy is estimated to have contracted 7.8 percent in 2022. 

The government expects economic growth to turn positive in the final quarter of this year. 


  Comments - 9

  • Prabu kariyavasam Thursday, 15 June 2023 06:14 PM

    How can a country survive this and where does the workers get jobs? While the whole nation suffers we reward the clown who caused it a house in Colombo07? The foreign ministry will learn his fate very soon.

    Sam Silva Thursday, 15 June 2023 06:30 PM

    The contraction need to multiply into 2 because we always being mislead.

    Arnold Thursday, 15 June 2023 08:03 PM

    In the mean time the net worth of politicians would have expanded by the same percentage.

    Banana republic Thursday, 15 June 2023 08:55 PM

    But Uganda and St Marino economies expanded.

    Ranil Thursday, 15 June 2023 11:02 PM

    what is in this economy to contract when the it has been at its nadir and racing towards negative infinity?

    Cheers Friday, 16 June 2023 03:01 AM

    Economy would have been even better under Gotabaya if not for aragalaya that was funded by diaspora and the allias and it was world proven now

    Bandu Friday, 16 June 2023 04:34 AM

    We have politicians who are clueless on how to revive the economy. Sadly they just talk and press keep publishing their stupid speeches.

    jan Friday, 16 June 2023 04:47 AM

    SRILANKANS Deliberately cut down their OWN Consuming HABITS Due to HIGH COST FOOD ITEMS, MEDECINES, TRAVELING, CLOTHING, Because MINIMUM SALARY IS VERY LOW RS 25,000/

    SK Kumara Friday, 16 June 2023 07:14 AM

    Yes of course, only Sri Lanka is blessed with that magic carpet to lift up the economical growth from -11.5% to a %. If the census to show -11.5% today, in reality its about -15% it will take us 2 years to get to 0% and another 6 months to show any positive growth. Our government is full of clowns they're very amusing.


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