Courtesy Hiru News

Sri Lanka’s economy recorded a positive Gross Domestic Product (GDP) growth rate of 4.8% in the first quarter of 2025.

This marks the seventh consecutive quarter of positive growth for the nation, beginning from the third quarter of 2023.

The Department of Census and Statistics announced this, noting that the GDP at constant prices increased to Rs. 3.477 trillion from Rs. 3.318 trillion in the first quarter of 2024.

At current prices, the GDP for the first quarter of 2025 rose to 8,274,915 million rupees, a 4.5% increase from the same quarter in 2024.

 Industrial activities expanded by 9.7%.

This was significantly boosted by increases in the Construction industry, which increased by 10.7% and the Mining industry, which increased by 12.6%, benefiting from increased imports of investment goods and reduced input prices.

 The overall manufacturing industry also showed a remarkable 9.6% increase.

Services activities grew by 2.8%. This sector’s growth was driven by strong performances in Insurance of 17.4% and Financial services of 14.6%.

The DCS attributes this growth to factors such as a relatively stable exchange rate and low interest rates, which have facilitated an increase in domestic credit and imports of investment and intermediate goods.

For more detailed information, the DCS has published the full GDP estimates for the first quarter of 2025 on their website.