AEIR 2019/2020

GDP growth slowed to an estimated 2.6% in 2019 from 3.2% in 2018. Following the resolution of a political impasse near the end of 2018, growth rebounded only to be disrupted by the Easter Sunday terror attacks. Growth in agriculture fell to 1.7%, industry recovered to 2.6% growth, while growth in services slowed to 2.9%. On the demand side, net exports made the largest contribution to GDP growth as imports fell. After 2 years of contraction, consumption grew 2.1%. Inflation averaged 4.3% in 2019. The impact of the COVID-19 pandemic will limit GDP growth to 2.2% in 2020, with an expected recovery to 3.5% in 2021.  

Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 5.0 (Oct20)5.0 5.0
Broad Money Growth 2 16.7 (Aug20)16.7 15.2
Headline Inflation Rate 3 6.4 (Sep20)6.3 5.0
Industrial/ Manufacturing Production Growth Rate 3 -9.0 (Aug20)2.3 2.7
Merchandise Export Growth 3 -8.3 (Aug20)-8.3 8.7
Exchange Rate Index 4 180.6 (Oct20)181.2 177.6
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.

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