Sri Lankan economy contracted by 1.5-pct in 3Q 2021

Sri Lanka’s Department of Census and Statistics revealed that the economic growth rate for the third quarter of 2021 is estimated as a negative growth rate of 1.5 percent amidst the third wave of the Covid-19 pandemic.

In the third quarter of 2021, the overall Agricultural activities recorded a slight positive growth of 1.7 percent. This was positively affected by the fact that the government had allowed agricultural activities to continue throughout the country even under the quarantine curfew.

Industry and services-related activities recorded negative growth rates of 2.1 percent and 1.6 percent respectively during the quarter. In the same quarter of last year, these activities recorded positive growth rates.

Sri Lankan economy had grown by 1.3 percent in the third quarter of 2020. GDP growth in the third quarter of 2021 is calculated from the higher level of real GDP value recorded in the third quarter of 2020.

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