Public Finance Data and Analysis
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Sri Lanka's GDP grew by 5.5% in Q3 2024, driven by strong performance in construction, apparel, and services, supported by falling interest rates and increased imports of investment and intermediate goods.
Sri Lanka's GDP grew by 5.5% in Q3 2024, a significant improvement from 1.2% a year ago, supported by the central bank's deflationary policies and falling interest rates. Private credit expanded, and imports of investment and intermediate goods boosted growth in key sectors, including construction (+23.8%) and apparel (+13.5%). The industrial sector grew by 10.8%, while services expanded 2.6%, driven by accommodation, food, and beverages (+18.8%) and financial services (+5.1%). Agriculture grew 3.0%, despite a decline in coconut production, with tea (+16.3%) and rice (+4.3%) showing strong gains. Real GDP, however, remained below last year’s level.
