LNP – 2Q economic growth surges to 12.3% amid low base effect

Sri Lanka’s economy grew robust 12.3 percent in the second quarter of 2021 despite the COVID-19 virus-induced restrictions on economic activities since late April as a result of an extremely low base in the corresponding period of the previous year.

Sri Lanka’s economy recorded its worst contraction of 16.4 percent in the second quarter of last year due to the first lockdown wave, which resulted in the complete closing of the economy barring a few essential services.

The Department of Census and Statistics (DCS) said during the second quarter of 2021, all three major economic activities recorded significant positive growth rates as a result of the low base effect stemming from last year.

Accordingly, the agriculture activites recorded a positive growth of 8.1 percent, industrial 22.1 percent and activities 7.5 percent.

Pls refer the full press release issued by the DCS below.