Provincial Gross Domestic Product (PGDP) estimated by the Statistics Department of the Central Bank of Sri Lanka (CBSL) by disaggregating the annual nominal Gross Domestic Product (GDP) figures published by the Department of Census and Statistics (DCS), using provincial indicators, shows that the Western Province continued to account for the largest share of the country’s nominal GDP. However, in line with recent trends, its share in the GDP declined in 2017, contributing to narrowing of regional disparity. Central and North Western provinces were the second and third highest contributors to the national GDP in nominal terms.

During 2017, increases in PGDP shares could be observed in Eastern, North Western and Uva provinces, while that of Western, Southern, North Central and Sabaragamuwa provinces decreased. The shares of Central and Northern provinces remain unchanged.

The Central Bank of Sri Lanka today released its half yearly publication - “Recent Economic Developments: Highlights of 2018 and Prospects for 2019”. 

A summary of the performance of the Sri Lankan economy in 2018 as reflected in this publication is given below:

The Sri Lankan economy faced renewed challenges emanating from global market developments, which disrupted the steady stabilisation path observed up to the first quarter of the year. The economy grew at a moderate pace of 3.6 per cent in the first half of 2018, following relatively low growth of 3.3 per cent recorded during the year 2017. Agricultural activities continued their rebound in the first half of 2018 supported by favourable weather conditions that prevailed during this period. The growth in industrial activities slowed, mainly due to the subdued performance in the construction and mining and quarrying subsectors. The expansion in services activities was broad-based, driven mainly by the growth of financial services, wholesale and retail trade and other personal services activities. Meanwhile, an increase in the unemployment rate was observed during the first half of 2018. Consumer price inflation has remained subdued thus far in 2018, although temporarily edging up in some months, mainly as a result of movements in volatile food prices and upward adjustments to domestic petroleum and other administered price.