2020 Fourth Quarter Shows A 1.3% Growth In GDP
Posted 17,March

By Chaveendra Dunuwille

In Local News

2020 fourth quarter shows a 1.3% growth in GDP

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According to the state statistics office the Sri Lankan Gross Domestic Product (GDP) was estimated to have grown by 1.3% in the 4th Quarter of 2020. This growth is slightly lower in comparison to the 1.6% GDP growth that was achieved in the same time frame of 2019
The information released from the Department of Census & Statistics show a growth of 1.3% in the Agricultural and Industrial Sectors of the nation as well as a 1.9% increase in growth for the Services sector.
As the country economy was hit by the Co-vid 19 pandemic statistics showed a 1.8% contraction in the 1st quarter from the previously recorded 1.7%
Following the reopening of the economy after March 20th, 2020 the 2nd quarter contraction was shown to have revised up from 16.3% to 16.4%. The 3rd quarter showed a growth that had revised down from 1.5% to 1.3%