Real GDP Growth: Sri Lanka
Sri Lanka's real gdp growth is currently 5.0% as of 2024. # Sri Lanka Real GDP Growth Sri Lanka's real GDP growth stands at 5% in 2024, marking a recovery from recent economic turmoil.
Current (2024)
5.0%
+317.4% y/y
Peak (1996)
12.2%
Low (2022)
-7.3%
Source
IMF World Economic Outlook
1980–2024 · 45 pts
Real GDP Growth — Sri Lanka
1980 — 2024
Real GDP Growth — Sri Lanka
Analysis# Sri Lanka Real GDP Growth
Sri Lanka's real GDP growth stands at 5% in 2024, marking a recovery from recent economic turmoil. The nation's growth rate remains well below its all-time peak of 12.2% in 1996 and significantly above its lowest point of -7.3% in 2022. Since 1980, Sri Lanka's cumulative growth trajectory has declined by 13.8%, reflecting decades of volatility and structural challenges.
The economy experienced severe contraction in 2022, driven by currency devaluation and external debt pressures, followed by continued decline in 2023 at -2.3%. The 2024 rebound to 5% suggests stabilization efforts are taking hold. Sri Lanka's growth pattern over the past decade reveals acute sensitivity to external shocks and policy shifts, with the 2020 pandemic-induced contraction of -4.6% followed by partial recovery. Sustained growth above 5% in coming years will be essential for rebuilding macroeconomic stability.
Historical Data
45 Rows| Year | Value | Change % |
|---|---|---|
| 2024 | 5.0% | +317.39% |
| 2023 | -2.3% | +68.49% |
| 2022 | -7.3% | -273.81% |
| 2021 | 4.2% | +191.30% |
| 2020 | -4.6% | -2200.00% |
| 2019 | -0.2% | -108.70% |
| 2018 | 2.3% | -64.62% |
| 2017 | 6.5% | +27.45% |
| 2016 | 5.1% | +21.43% |
| 2015 | 4.2% | -34.38% |
| 2014 | 6.4% | +56.10% |
| 2013 | 4.1% | -52.33% |
| 2012 | 8.6% | -1.15% |
| 2011 | 8.7% | +8.75% |
| 2010 | 8.0% | +128.57% |
| 2009 | 3.5% | -41.67% |
| 2008 | 6.0% | -11.76% |
| 2007 | 6.8% | -11.69% |
| 2006 | 7.7% | +24.19% |
| 2005 | 6.2% | +14.81% |
Show all 45 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | 5.4% | -8.47% |
| 2003 | 5.9% | +59.46% |
| 2002 | 3.7% | +294.74% |
| 2001 | -1.9% | -122.62% |
| 2000 | 8.4% | +189.66% |
| 1999 | 2.9% | +281.25% |
| 1998 | -1.6% | -115.53% |
| 1997 | 10.3% | -15.57% |
| 1996 | 12.2% | +100.00% |
| 1995 | 6.1% | -23.75% |
| 1994 | 8.0% | +6.67% |
| 1993 | 7.5% | +341.94% |
| 1992 | -3.1% | -128.70% |
| 1991 | 10.8% | +74.19% |
| 1990 | 6.2% | +169.57% |
| 1989 | 2.3% | -14.81% |
| 1988 | 2.7% | +80.00% |
| 1987 | 1.5% | -65.12% |
| 1986 | 4.3% | -14.00% |
| 1985 | 5.0% | -25.37% |
| 1984 | 6.7% | +103.03% |
| 1983 | 3.3% | -36.54% |
| 1982 | 5.2% | -1.89% |
| 1981 | 5.3% | -8.62% |
| 1980 | 5.8% | — |
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