The upcoming Sri Lanka Economic Virtual Summit 2020, is prepared to host a lineup of contemporary dialogues under this year’s theme ‘Roadmap for Take-Off: Driving a People-Centric Economic Revival’. Contribution of travel and tourism to GDP (% of GDP) of Sri Lanka increased from 6.7 % in 2001 to 12.5 % in 2020 growing at an average annual rate of 3.61%. The Department of Census and Statistics, releasing preliminary na Following 30 years of civil war that ended in 2009, the economy grew at an average 5.3 percent during the period 2010-2019, reflecting a peace dividend and a determined policy thrust towards reconstruction and growth; although growth slowed down in the last few years. In 2020, contribution of travel and tourism to GDP (% of GDP) for Sri Lanka was 12.5 %. (d) From 2010 onwards, data are based on the GDP estimates of the Department of Census and Statistics with base year 2010. Monthly Economic Update - August 2020 The Sri Lanka’s economy contracted by 1.6% during Q1-2020 whilst the trade deficit during 1H-2020 narrowed by 9%. Mahinda Rajapaksa's Sri Lanka Podujana Peramuna (SLPP) won the parliamentary election in August 2020 with a huge majority. Day Two of the event will commence with a session dedicated towards a focal topic on “Efficient Government and Progressive State Enterprises”. Sri Lanka’s very creditable health response to COVID-19 gives it an early advantage to tackle the economic fallout of the pandemic. Sri Lanka recorded a government debt equivalent to 86.80 percent of the country's Gross Domestic Product in 2019. The Gross Domestic Product (GDP) in Sri Lanka expanded 1.40 percent in the fourth quarter of 2017 over the same quarter of the previous year. World Bank national accounts data, and OECD National Accounts data files. Central Bank of Sri Lanka (c) Based on revised GDP estimates for 2017 and 2018 released on 31 March 2020 by the Department of Census and Statistics. Sri Lanka has recorded 1.5 percent of economic growth rate for the 3rd quarter of 2020 and negative 16.3 percent of economic growth rate for the 2nd quarter of 2020. “With observed developments in the fourth quarter, we expect the economy to record an annual contraction of around 3.9 percent, Lakshman said while delivering ‘The Road Map: Monetary and Financial Sector […] PPI for all activities reported for October 2020 is 145.8 District Official Poverty Line - November 2020 Globally, the US Dollar Index fell to more than a 2-year Low in August. Sri Lanka: State of the Economy 2020 Pandemics and Disruptions: Reviving Sri Lanka’s Economy COVID-19 and Beyond. Government Debt to GDP in Sri Lanka averaged 70.18 percent from 1950 until 2019, reaching an all time high of 108.70 percent in 1989 and a record low of 16.30 percent in 1951. November 17, 2020. Sri Lanka is a lower-middle-income country with a GDP per capita of USD 3,852 (2019) and a total population of 21.8 million. GDP growth (annual %) - Sri Lanka. Aug 06, 2020 (LBO) - Sri Lanka's GDP growth rate for the first quarter of 2020 has been estimated as 1.6 percent of negative growth rate, when compared to the 3.7 percent of positive growth recorded in the first quarter of 2019. Sri Lanka Economic Outlook. We expect the economy to stage a gradual recovery in 2021 after experiencing its worst-ever recession in 2020. GDP Growth Rate in Sri Lanka averaged 5.88 percent from 2003 until 2017, reaching an all time high of 16.10 percent in the first quarter of 2012 and a record low of 0.50 percent in the fourth quarter of 2013. Producer's Price Index (PPI) - October 2020. It is well placed to make more constitutional amendments with the support of its allies. 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