Issuing a communiqué, on releasing National Accounts Estimates, the Sri Lanka’s GDP contracts 8.4% in Q2 2022 (DCS) states that the year on year GDP growth rate for the second quarter of 2022 has been estimated as 8.4 percent of negative growth rate, against the value reported in the same quarter in the year 2021.

Further, the Gross Domestic Product for Sri Lanka for the second quarter of year 2022 at constant price (2015) has declined up to Rs. 2,782,114 million from Rs. 3,038,855 million which recorded in the second quarter of year 2021. However, the GDP at constant price (2015) reported in the second quarter of 2022 is higher than the GDP at constant price reported in the second quarter of year 2020 which is amounted to Rs. 2,612,069 million.

In the second quarter of year 2022, the year on year GDP growth rate is calculated based on the real GDP value reported in the second quarter of previous year. Accordingly, the following Figure reflects the changes in the real GDP levels in the second quarter GDP series from the year 2018 to the year of 2022.

Real Gross Domestic Product – second quarter series 2018-2022