KEY ECONOMIC INDICATORS

2016 2017 2018 2019 2020 2021 2022 (a)

DEMOGRAPHY
Mid-year population (‘000 persons) (b)(c) 21,209 21,444 21,670 21,803 21,919 22,156 22,181
Growth of mid- year population (per cent) (b) 1.1 1.1 1.1 0.6 0.5 1.1 0.1
Population density (persons per sq.km.) (b) 338 342 346 348 350 353 354
Labour force (‘000 persons) (d) 8,311 8,567 8,388 8,592 8,467 8,553 8,547
Labour force participation rate (per cent) (d) 53.8 54.1 51.8 52.3 50.6 49.9 49.8
Unemployment rate (per cent of labour force) (d) 4.4 4.2 4.4 4.8 5.5 5.1 4.7
OUTPUT (e)
GDP at current market price (Rs. billion) 12,813 14,387 15,352 15,911 15,672 17,600 (a) 24,148
GNI at current market price (Rs. billion) 12,493 14,034 14,962 15,470 15,248 17,205 (a) 23,526
GDP at current market price (US$ billion) (f) 88.0 94.4 94.7 89.0 84.6 88.5 (a) 77.1
GNI at current market price (US$ billion) (f) 85.8 92.0 92.4 86.5 82.3 86.6 (a) 75.2
Per capita GDP at current market price (Rs.) (g) 604,129 670,925 708,442 729,761 714,975 794,376 (a) 1,088,667
Per capita GNI at current market price (Rs.) (g) 589,058 654,470 690,463 709,516 695,674 776,523 (a) 1,060,654
Per capita GDP at current market price (US$) (f)(g) 4,149 4,400 4,372 4,082 3,858 3,997 (a) 3,474
Per capita GNI at current market price (US$) (f)(g)(h) 4,045 4,292 4,263 3,968 3,754 3,907 (a) 3,388
REAL OUTPUT (percentage change) (e)
GDP 5.1 6.5 2.3 -0.2 -4.6 3.5 (a) -7.8
Major economic activities of GDP
Agriculture -4.7 -1.8 6.3 0.5 -0.9 0.9 (a) -4.6
Industry 7.4 13.0 -1.1 -4.1 -5.3 5.7 (a) -16.0
Services 4.7 3.6 4.3 2.9 -1.9 3.5 (a) -2.0
GNI 4.9 6.6 2.2 -0.5 -4.5 4.0 (a) -8.1
AGGREGATE DEMAND AND SAVINGS (per cent of GDP) (e)
Consumption 70.4 67.0 68.9 71.7 73.2 70.6 (a) 69.2
Private 62.2 59.1 60.3 62.7 62.8 61.2 (a) 62.0
Government 8.2 7.9 8.6 9.0 10.4 9.5 (a) 7.2
Investment 36.5 39.7 38.1 34.1 33.0 36.7 (a) 34.4
Net exports of goods and services -6.8 -6.7 -6.9 -5.8 -6.2 -7.4 (a) -3.6
Exports of goods and services 19.8 20.2 21.4 21.8 15.4 16.9 (a) 21.5
Imports of goods and services 26.6 26.9 28.4 27.6 21.6 24.3 (a) 25.0
Domestic savings 29.6 33.0 31.1 28.3 26.8 29.4 (a) 30.8
Net primary and secondary income from rest of the world 4.8 4.2 4.0 3.7 4.6 3.6 (a) 2.2
National savings 34.5 37.3 35.1 32.0 31.5 33.0 (a) 33.1
PRICES AND WAGES (percentage change)
National Consumer Price Index (2013 = 100) - annual average 4.0 7.7 2.1 3.5 6.2 7.0 50.4
National Consumer Price Index (2013 = 100) - year-on-year (end period) 4.2 7.3 0.4 6.2 4.6 14.0 59.2
Colombo Consumer Price Index (2013 = 100) - annual average 4.0 6.6 4.3 4.3 4.6 6.0 46.4
Colombo Consumer Price Index (2013 = 100) - year-on-year (end period) 4.5 7.1 2.8 4.8 4.2 12.1 57.2
Producer Price Index (2018 Q4 = 100) - annual average - - - - 5.8 10.9 74.0
Producer's Price Index (2013 Q4 = 100) - annual average (i) 1.7 17.0 6.3 2.9 5.7 - -
GDP deflator (e) 5.4 5.5 4.3 3.9 3.3 8.5 (a) 48.8
GNI deflator (e) 5.5 5.4 4.4 3.9 3.2 8.5 (a) 48.8
Nominal Wage Rate Indices
Workers in All Wage Boards (1978 Dec = 100) - annual average 0.0 0.0 0.6 2.9 0.2 74.4 9.8
Public Sector Employees (2016 = 100) - annual average - - 0.2 4.7 9.2 0.0 16.1
Public Sector Employees (2012 = 100) - annual average (j) 3.9 0.0 0.1 3.2 - - -
Informal Private Sector Employees (2018 = 100) - annual average - - - - 6.4 9.2 24.5
Informal Private Sector Employees (2012 = 100) - annual average (k) 7.9 9.5 13.2 6.2 3.3 9.2 -
EXTERNAL TRADE
Trade balance (US$ million) -8,873 -9,619 -10,343 -7,997 -6,008 -8,139 -5,185
Exports 10,310 11,360 11,890 11,940 10,047 12,499 13,106
Imports 19,183 20,980 22,233 19,937 16,055 20,637 18,291
Terms of trade (percentage change) 4.0 1.2 0.02 -1.6 2.5 -8.6 -11.6
Export unit value index (2010 = 100) (percentage change) -1.5 2.4 4.2 -6.3 -6.8 5.4 0.9
Import unit value index (2010 = 100) (percentage change) -5.3 1.2 4.1 -4.8 -9.1 15.2 14.1
Export volume index (2010 = 100) (percentage change) -0.7 7.6 0.5 7.2 -9.7 18.0 3.9
Import volume index (2010 = 100) (percentage change) 7.0 8.1 1.8 -5.8 -11.4 11.5 -22.4
EXTERNAL FINANCE (US$ million)
Services and primary income account (net) 678 984 1,381 388 -1,386 -373 235
Current private transfers (net) 6,434 6,316 6,155 5,757 6,194 5,221 3,493
Current official transfers (net) 19 11 8 9 13 6 3
Current account balance -1,742 -2,309 -2,799 -1,843 -1,187 -3,284 -1,453
Overall balance -500 2,068 -1,103 377 -2,328 -3,967 -2,806
(a) Provisional (g) Estimates are updated with the latest population figures
(b) As reported by Registrar General’s Department (h) These values may differ from DCS published values due to differences in the use of
(c) Based on the Census of Population and Housing - 2012 quarterly average exchange rates in comparison to annual average exchange rate for
(d) Household population aged 15 and above is considered for the calculation of derivation of GNI in US$ terms.
labour force. (i) Compilation of this index was discontinued since November 2021.
(e) Rebased GDP estimates (base year 2015) released in March 2023 by the Department (j) Compilation of this index was discontinued since April 2020.
of Census and Statistics have been used. (k) Compilation of this index was discontinued since November 2022.
(f) Based on quarterly GDP/GNI in US$ terms calculated using quarterly average
exchange rate from 2015 onwards
 KEY ECONOMIC INDICATORS (Contd.)

2016 2017 2018 2019 2020 2021 2022 (a)

Current account balance (per cent of GDP) (e)(l) -2.0 -2.4 -3.0 -2.1 -1.4 -3.7 -1.9
Total foreign assets (months of the same year imports) (m) 5.3 6.0 5.2 6.3 6.4 3.6 3.9
Gross official reserves (months of the same year imports) 3.8 4.6 3.7 4.6 4.2 1.8 1.2
Overall debt service ratio (n)
As a percentage of export of goods and services 25.6 23.9 28.9 29.7 35.2 30.7 15.3
As a percentage of current receipts 18.0 17.3 21.3 21.8 22.6 22.3 12.2
Total external debt (per cent of GDP) (e)(l) 52.8 54.7 55.3 61.6 58.0 58.5 64.5
EXCHANGE RATES
Annual average
Rs/US$ 145.60 152.46 162.54 178.78 185.52 198.88 324.55
Rs/SDR (o) 202.39 211.49 229.90 246.97 258.61 283.18 431.91
NEER (2017 = 100) (24 - currency basket) (p) 104.91 100.00 94.05 88.17 85.93 78.64 53.99
REER (2017 = 100) (24 - currency basket) (p)(q) 100.55 100.00 95.45 90.42 91.52 83.58 54.33
Year end
Rs/US$ 149.80 152.85 182.75 181.63 186.41 200.43 363.11
Rs/SDR (o) 201.38 217.69 253.51 251.17 268.48 280.53 483.24
GOVERNMENT FINANCE (per cent of GDP) (e)(r)
Revenue and grants 13.2 12.8 12.6 11.9 8.8 8.3 8.3
Revenue 13.2 12.7 12.5 11.9 8.7 8.3 8.2
o/w Tax revenue 11.4 11.6 11.2 10.9 7.8 7.4 7.3
Grants 0.1 0.1 0.1 0.0 0.0 0.0 0.1
Expenditure and net lending 18.2 17.9 17.5 21.0 19.4 20.0 18.5
Recurrent expenditure 13.7 13.4 13.6 15.2 16.3 15.6 14.6
Capital expenditure and net lending 4.5 4.5 3.9 5.7 3.1 4.4 3.9
Current account balance -0.6 -0.7 -1.1 -3.4 -7.5 -7.3 -6.4
Primary balance -0.2 0.0 0.6 -3.4 -4.4 -5.7 -3.7
Overall fiscal balance -5.0 -5.1 -5.0 -9.0 -10.6 -11.7 -10.2
Deficit financing 5.0 5.1 5.0 9.0 10.6 11.7 10.2
Foreign 3.1 3.1 2.1 3.4 -0.5 -0.1 1.8
Domestic 1.9 2.0 2.8 5.6 11.2 11.8 8.4
Central government debt (s) 74.0 72.2 78.4 81.9 96.5 100.1 113.8 (t)
Foreign 31.6 32.8 38.8 39.0 38.6 37.0 51.6 (t)
Domestic (u) 42.4 39.4 39.5 42.9 57.8 63.1 62.3 (t)
MONETARY AGGREGATES (year-on-year percentage change)
Reserve money 27.1 9.8 2.3 -3.0 3.4 35.4 3.3
Narrow money (M1) 8.6 2.1 4.7 4.2 36.0 24.0 -0.4
Broad money (M2b) 18.4 16.7 13.0 7.0 23.4 13.2 15.4
Net foreign assets of the banking system 22.4 152.6 -155.1 250.3 -308.0 -368.8 -79.9
Net domestic assets of the banking system 15.9 9.8 16.3 4.6 27.8 20.9 20.9
Domestic credit from the banking system to
Government (net) 12.1 10.0 16.1 11.1 62.7 28.2 28.1
Public corporations/SOBEs -3.2 4.5 40.7 8.3 22.5 18.6 47.0
Private sector 21.6 14.7 15.9 4.2 6.5 13.1 6.2
Money multiplier for M2b (end year) 6.31 6.71 7.42 8.18 9.75 8.15 9.11
Velocity of M2b (average for the year)(e) 2.59 2.43 2.27 2.16 1.84 1.73 2.05
INTEREST RATES (per cent per annum at year end)
Standing Deposit Facility Rate (SDFR) 7.00 7.25 8.00 7.00 4.50 5.00 14.50
Standing Lending Facility Rate (SLFR) 8.50 8.75 9.00 8.00 5.50 6.00 15.50
Bank Rate (v) 15.00 15.00 15.00 15.00 8.50 9.00 30.22
Legal Rate of Interest / Market Rate of Interest (w) 5.98 7.06 9.08 11.50 11.64 10.12 7.48
Money market rates
Average weighted call money rate (AWCMR) 8.42 8.15 8.95 7.45 4.55 5.95 15.50
Treasury bill yields
91-day 8.72 7.69 10.01 7.51 4.69 8.16 32.64
364-day 10.17 8.90 11.20 8.45 5.05 8.24 29.27
Deposit rates
Commercial banks’ average weighted deposit rate (AWDR) 8.17 9.07 8.81 8.20 5.80 4.94 14.06
Commercial banks’ average weighted fixed deposit rate (AWFDR) 10.46 11.48 10.85 10.05 7.14 5.94 18.49
Commercial banks’ average weighted new deposit rate (AWNDR) 11.17 10.06 10.94 8.89 4.93 6.45 23.07
Commercial banks’ average weighted new fixed deposit rate (AWNFDR) 11.44 10.65 11.27 9.17 5.08 6.67 23.73
NSB savings rate 4.25 4.00 4.00 4.00 3.50 3.50 3.00
NSB 12 month fixed deposit rate 11.00 11.00 10.50 9.83 5.25 5.50 12.00
Lending rates
Commercial banks’ average weighted prime lending rate (AWPR)-Weekly 11.52 11.55 12.09 9.74 5.81 8.61 27.24
Commercial banks’ average weighted lending rate (AWLR) 13.20 13.88 14.40 13.59 10.29 9.87 18.70
Commercial banks’ average weighted new lending rate (AWNLR) 13.94 14.31 14.54 12.80 8.38 9.48 26.20
CAPITAL MARKET
All share price index (ASPI) (1985 = 100) 6,228.3 6,369.3 6,052.4 6,129.2 6,774.2 12,226.0 8,489.7
S&P SL20 index (2004 Dec = 1,000) 3,496.4 3,671.7 3,135.2 2,937.0 2,638.1 4,233.3 2,635.6
Value of shares traded (Rs. million) 176,935 220,591 200,069 171,408 396,882 1,173,157 686,602
Net purchases by non nationals (Rs. million) 338 17,655 -23,239 -11,735 -51,356 -52,648 (x) 30,625
Market capitalisation (Rs. billion) 2,745.4 2,899.3 2,839.5 2,851.3 2,960.7 5,489.2 3,847.2
(l) Based on GDP estimates in US dollars (t) The outstanding central government debt excludes several debt service payments that became
(m) Excludes foreign assets in the form of direct investments abroad and trade credit and overdue after April 12, 2022, the date of which the Interim Policy regarding the servicing of Sri
advances received Lanka’s external public debt was announced by the Ministry of Finance, Economic Stabilization and
(n) Overall debt service ratios were reclassified to capture debt servicing in accordance with National Policies. These debt service payments comprise of overdue interest payments of affected
the External Debt Statistics Manual (2003) of the International Monetary Fund (IMF). debt which deemed to be capitalised as per the Interim Policy and several overdue interest payments
(o) Special Drawing Rights (SDR), the unit of account of the IMF in relation to Sri Lanka Development Bonds.
(p) Exchange rates have been defined in terms of indices so that the appreciation/ (u) Outstanding balance of Treasury bonds issued to State Owned Business Enterprises (SOBEs) has
depreciation of the rupee relative to other currencies is reflected by a rise/fall in the been included.
values of the effective exchange rate indices. (v) The rate at which the Central Bank grants advances to banking institutions as the lender of last resort.
(q) CCPI is used for the computation of the Real Effective Exchange Rate (REER). The REER
is computed by adjusting the Nominal Effective Exchange Rate (NEER) for inflation (w) The Legal rate is defined under the Civil Procedure Code (Amendment) Act No. 6 of 1990 and
differentials with the countries whose currencies are included in the basket. is applicable to any legal action for the recovery of a sum of money. The Market rate is defined
(r) According to the Ministry of Finance, some fiscal sector statistics of 2019 have been under the Debt Recovery (Special Provisions) Act No. 2 of 1990 and is applicable only in relation to
restated as announced in the Budget Speech for 2020 legal actions instituted by lending institutions for the recovery of debt exceeding Rs. 150,000 arising
(s) As per the guidelines of compiling government debt statistics in the Manual of out of commercial transactions, where there is no agreed rate of interest. The Monetary Board
Government Finance Statistics published by the IMF in 2014, non resident holdings of the Central Bank determines the Legal rate and Market rate for each year and publishes in the
of outstanding SLDBs have been classified under foreign debt and resident holdings of Government Gazette in the month of December to be applicable for the forthcoming year. The Legal
outstanding ISBs of the Sri Lankan Government have been classified under domestic rate and the Market rate for the year 2023 is 16.97 per cent per annum.
debt from 2019 onwards. (x) Revised