The Department of Census and Statistics (DCS) Sri Lanka has announced the estimated Gross Domestic Product (GDP) at current prices and constant (2015) prices in the Production Approach, along with other macroeconomic indicators, for the first quarter of 2022 (January 1st to March 31st).
In a statement issued in conjunction with the release of National Accounts estimates, the DCS claims that the year on year growth rate is predicted to be negative 1.6 % in the first quarter of 2022.
compared to the first quarter of 2021, indicates a significant deterioration of the economy.
During this time, there was a serious scarcity of chemical fertilisers, which had a substantial influence on agricultural productivity, particularly rice production, the country’s primary food crop. As a result, the agricultural economy had its worst decrease in this quarter since 2015.
