Sri Lanka: Economy | Asian Development Bank

Sri Lanka: Economy

GDP grew by 3.8% in the first quarter of 2017 and 4.0% in the second to hold growth in the first half of 2017 to 3.9% year on year, unchanged from the 2016 outcome. Agriculture was hit in the first quarter by continuing drought, causing a 3.2% decline. Rice production fell by 53%, and there were significant declines in tea and rubber, major exports crops. Floods in the second quarter shrank agriculture by 2.9% with further rice loses, even as tea and rubber rebounded. Read more from Asian Development Outlook 2017 Update


Economic forecasts for South Asian countries

Country 2017f 2018f
Afghanistan 2.5 3.0
Bangladesh 7.2 6.9
Bhutan 6.9 8.0
India 7.0 7.4
Maldives 4.2 4.4
Nepal 6.9 4.7
Pakistan 5.3 5.5
Sri Lanka 4.5 5.0
Average 6.7 7.0
Country 2017f 2018f
Afghanistan 5.5 5.8
Bangladesh 5.4 6.0
Bhutan 4.3 5.4
India 4.0 4.6
Maldives 3.1 2.8
Nepal 4.5 6.5
Pakistan 4.2 4.8
Sri Lanka 7.0 4.0
Average 4.2 4.7
Country 2017f 2018f
Afghanistan 2.2 0.2
Bangladesh –0.6 –1.5
Bhutan –25.5 –22.8
India –1.3 –1.5
Maldives –16.4 –15.2
Nepal –0.4 –2.2
Pakistan –4.0 –4.2
Sri Lanka –3.5 –2.5
Average –1.6 –1.8

f = forecast number.

Source: Asian Development Outlook 2017 Update