COLOMBO, March 18 (Xinhua) -- Sri Lanka's economy grew by 5.0 percent in the year 2024, reversing two years of contraction, data released by the Department of Census and Statistics (DCS) on Tuesday showed.
All three sectors of the economy -- agriculture, industry, and services -- expanded by 1.2 percent, 11.0 percent, and 2.4 percent respectively in 2024, according to the DCS.
The GDP growth rate for the fourth quarter of 2024 is estimated at 5.4 percent, the DCS said.
Sri Lanka's GDP contracted in 2022 and 2023 due to an economic crisis, with the GDP growth rate for the year of 2023 being estimated at negative 2.3 percent. ■
