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Lanka records negative growth rate of 11.8% in third quarter of this year
The Department of Census and Statistics (DCS) on Thursday announced that the country’s estimated Gross Domestic Product (GDP) has contracted by 11.8 percent in the third quarter of 2022, compared to last year.
The GDP for the third quarter was 2,884,018 million rupees (7.8 billion U.S. dollars,) the Department said.It said that the year-on-year GDP growth rate was negative 11.8 percent.
The Department said the overall Agriculture, Industry and Services activities declined by 8.7 percent, 21.2 percent and 2.6 percent, respectively, in the third quarter of 2022.The GDP for the third quarter of 2021 was 3,269,510 million rupees (around 8.96 billion U.S. dollars,) the Department said.