Friday, 29 December 2023 09:50

Western province leads Sri Lanka’s economy yet again Featured

The Western province maintained its status as the foremost contributor to Sri Lanka’s economy in 2022, further solidifying its position by increasing its share in nominal GDP from 42.6 percent in 2021 to 43.4 percent.

The latest provincial gross domestic product (PGDP) estimates released by the Central Bank yesterday showed the strong presence of the Western province in most of the economic activities, specially in the services and industry sectors.

The second and third largest contributors to the economy in 2022 were the North Western (11.2 percent) and Central (10.0 percent) provinces.

The contributions to nominal GDP from the Western, North Western and Uva provinces increased in 2022 compared to 2021, while that of the North Central province remained unchanged.

The Nominal GDP of all the provinces grew substantially during the year, mainly attributable to the significant increase in price levels.

 

 

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