AEIR 2019/2020

Despite the recovery in agriculture and improved services, growth fell slightly to 3.2% in 2018 from 3.4% in 2017 as industry slowed and manufacturing weakened. Export earnings expanded by 4.7% in 2018. Industrial exports grew by 8.4% and agricultural exports declined by 6.8%—across all major agriculture export categories. Growth should recover moderately to 3.6% in 2019 and 3.8% in 2020. Assuming normal weather, agriculture is expected to continue recovering over the next 2 years. Tea and marine fishing, both large contributors to agriculture, will lead the recovery in 2019, while industry will pick up gradually over the forecast period, reversing the 2018 slowdown. Construction is expected to show some marginal growth this year.

Source: Asian Development Outlook 2019, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 5.0 (Oct19)5.0 5.0
Broad Money Growth 2 7.9 (Aug19)7.9 8.7
Headline Inflation Rate 3 5.0 (Sep19)3.4 0.9
Industrial/ Manufacturing Production Growth Rate 3 2.5 (Aug19)2.1 0.2
Merchandise Export Growth 3 -0.4 (Aug19)-0.4 -6.9
Exchange Rate Index 4 177.6 (Oct19)177.1 168.0
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; Department of Census and Statistics; ; Central Bank of Sri Lanka.

Initiatives / FTAs

News