Gross Domestic Product for Sri Lanka
MKTGDPLKA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98,963,185,509.65
Year-over-Year Change
40.48%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product for Sri Lanka measures the total monetary value of all final goods and services produced within the country over a given period. This trend is a key indicator of economic growth and provides important insights for economists and policymakers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Gross Domestic Product (GDP) is the standard measure of a country's economic output and overall economic health. The GDP for Sri Lanka specifically tracks the total value of all goods and services produced within the country, and is used to analyze economic performance, guide policy decisions, and make international economic comparisons.
Methodology
The GDP data for Sri Lanka is calculated by the World Bank using national accounts data.
Historical Context
Policymakers and analysts closely monitor GDP trends to assess the overall health of the Sri Lankan economy and make informed decisions regarding economic policies.
Key Facts
- Sri Lanka's GDP in 2021 was $84.51 billion.
- GDP per capita in Sri Lanka was $3,815 in 2021.
- The Sri Lankan economy contracted by 3.6% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Sri Lanka measures the total monetary value of all final goods and services produced within the country over a given period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a key indicator of a country's economic performance and overall health, making it crucial for economists, policymakers, and market analysts to monitor and interpret GDP trends in Sri Lanka.
Q: How is this data collected or calculated?
A: The GDP data for Sri Lanka is calculated by the World Bank using national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor GDP trends in Sri Lanka to assess the overall health of the economy and make informed decisions regarding economic policies.
Q: Are there update delays or limitations?
A: The GDP data for Sri Lanka is typically published with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Sri Lanka (MKTGDPLKA646NWDB), retrieved from FRED.