What is Sri Lanka's GDP in 2026? (2024)

What is Sri Lanka's GDP in 2026?

The GDP (gross domestic product) in Sri Lanka is forecast to amount to US$86.95bn in 2026. The real total GDP (gross domestic product) in Sri Lanka is expected to grow by 5.64% by 2026. The GNI (gross national income) in Sri Lanka is forecast to amount to US$103.70bn in 2025.

Sri Lanka's GDP Growth Projected to Dip Amid Macroeconomic Challenges and External Headwinds. ADB forecasts Sri Lanka's economic growth to dip to 2.4% in 2022 and improve marginally to 2.5% in 2023.

“Sri Lanka can use this opportunity to build a strong and resilient economy.” The SLDU is a companion piece to the latest South Asia Economic Focus, Expanding Opportunities: Toward Inclusive Growth, which projects regional growth to average 5.6 percent in 2023, a slight downward revision from the October 2022 forecast.

Growth of real GDP is now projected to average 2.5 percent a year over the 2024–2026 period, compared with the 1.5 percent a year projected last spring.

The free-market economy of Sri Lanka was worth $84 billion by nominal gross domestic product (GDP) in 2019 and $296.959 billion by purchasing power parity (PPP). The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers.

Luxembourg: USD 143,203 per capita in 2025

We forecast Luxembourg to be the world's wealthiest economy in 2025 in nominal GDP terms (at market exchange rates).

GDP Annual Growth Rate in Sri Lanka averaged 4.27 percent from 2003 until 2022, reaching an all time high of 16.30 percent in the second quarter of 2021 and a record low of -14.80 percent in the second quarter of 2020.

Sri Lanka gdp for 2021 was $88.93B, a 4.19% increase from 2020. Sri Lanka gdp for 2020 was $85.35B, a 4.12% decline from 2019. Sri Lanka gdp for 2019 was $89.01B, a 5.8% decline from 2018. Sri Lanka gdp for 2018 was $94.49B, a 0.12% increase from 2017.

According to the latest South Asia Economic Focus and the Sri Lanka Development Update, Sri Lanka's real GDP is expected to fall by 9.2 percent in 2022 and a further 4.2 percent in 2023.

What is the future of inflation in Sri Lanka?

The Asian Development Bank (ADB) expected Sri Lanka's inflation rate in 2023 to ease to 18.6% from 44.8% in 2022. According to the World Bank's October 2022 report, the inflation rate in Sri Lanka was projected to decelerate to 23.8% and to slow further to 8% in 2024 from an estimated 45.8% in 2022.

According to preliminary estimates, China's GDP in Q1 2023 reached RMB 28,499.7 billion (US$4,145.5 billion), up by 4.5 percent year on year (YOY) at constant price. Quarter-on-quarter, the Chinese economy grew 2.2 percent from the fourth quarter of 2022.

2023 Growth Percentage Change: 5.9%

India's GDP grew by 8.7% in 2021, reaching $3.1 trillion, making it the fastest-growing major economy in the world. Furthermore, India's per capita income has doubled in the last decade, and poverty rates have declined significantly.

1. United States: USD 29.3 trillion in 2026. FocusEconomics panelists see the U.S. retaining its title as the world's largest economy over the next few years, forecasting nominal GDP of USD 29.3 trillion in 2026.

Aside from the fact that there are 1 billion people in India, and 24 million in Sri Lanka, Sri Lankans take pride in their pearl island home. Sri Lanka has less wealth and natural resources than India, but the streets, cities and country side are so much cleaner.

India, Japan join hands to help Sri Lanka during economic crisis.

Sri Lanka has been unable to buy goods it needs from abroad. And in May 2022 it failed to make an interest payment on its foreign debt for the first time in its history. This damaged its reputation with lenders, making it even harder to borrow money on the international markets.

There is still much work to be done to propel China to the top of the world's economy, but it is certainly possible that the Chinese economy can surpass the power of the US by 2050. It may also be too early to make definitive projections of China's future.

China will probably overtake the United States later this decade or early in the next one to become the world's biggest economy as measured by market value. Most Europeans believe that China is already the dominant economic player, according to the Pew Research Center.

Which country will be richest in 2050?

As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by China (1st), India (2nd) and Indonesia (4th) The US could be down to third place in the global GDP rankings while the EU27's share of world GDP could fall below 10% by 2050.

Foreign Debt Summary (as of end April 2022)

By the end of April 2022, total outstanding external debt of the central Government was US$ 34.8 billion.

Economy. India has a GDP per capita of $6,100 as of 2020, while in Sri Lanka, the GDP per capita is $12,500 as of 2020.

Sri Lanka scores high on Human development index. India's GDP (PPP) is very high because of the high population that is also relatively young. So, each country has some advantages over the other.

In addition to being Sri Lanka's largest trade partner, India is also one of the largest contributors to Foreign Direct Investment in Sri Lanka. According to the Central bank of Sri Lanka, the total FDI from India so far exceeds US$ 2.2 billion.

Sri Lanka's economic freedom score is 52.2, making its economy the 136th freest in the 2023 Index. Its score is 1.1 points lower than last year. Sri Lanka is ranked 28th out of 39 countries in the Asia–Pacific region, and its score remains below the world and regional averages.

Sri Lanka is well known for its rich Buddhist culture as well as other religions. Being a religious country, Sri Lanka has many places with religious and historic significance, which attract tourists from all over the world.

Sri Lanka Government debt accounted for 111.9 % of the country's Nominal GDP in Sep 2022, compared with the ratio of 120.7 % in the previous quarter. Sri Lanka government debt to GDP ratio data is updated quarterly, available from Mar 2014 to Sep 2022.

Sri Lanka's recovery from the crisis hinges on timely progress on debt relief and steadfast implementation of reforms. Sri Lanka entered the crisis on a weak footing as pre-pandemic macroeconomic vulnerabilities, policy missteps, and shocks left the country with thin buffers on the eve of the pandemic.

Without hesitation, we respond… “absolutely, yes it is.” There is really no doubt in our minds that Sri Lanka is generally one of the safest places to visit in Asia, if not the world.

Why is Sri Lanka's inflation so high?

Dwindling foreign exchange reserves to fund imports have intensified Sri Lanka's crisis, causing shortages in essentials in a further blowout in the cost of living.

Sri Lanka has been struggling with soaring prices for over a year, largely caused by its worst financial crisis since it gained Independence from Britain in 1948. The CCPI acts as a lead indicator for broader national prices and shows how inflation is evolving in Colombo, Sri Lanka's biggest city.

Sri Lanka ranks fifth in the Top 10 list with Nominal food inflation at 91% (YoY), behind only Lebanon (332%), Zimbabwe (309%), Venezuela (155%) and Türkiye (95%). Sri Lanka is ahead of countries such as Iran (90%), Argentina (66%), Suriname (38%), Ethiopia (38%) and Moldova (34%).

Real gross domestic product (GDP) increased at an annual rate of 1.1 percent in the first quarter of 2023 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.6 percent.

Our projections imply that the world's five largest economies in 2050 (measured in real USD) will be China, the US, India, Indonesia, and Germany (with Indonesia displacing Brazil and Russia among the largest EMs).

Top 10 richest countries in the world according to the report published by PWC, were determined with the purchasing power parity. Top 10 Richest Countries in the World, 2050 are China, United States, Canada, United Kingdom, Brazil, Germany, France, Mexico, United States, India.

By 2040, India's gross domestic product in PPP terms will grow to $30 trillion from $8.7 trillion in 2016, while US will grow from $18.6 trillion to $28.3 trillion, said the PwC report titled “The World in 2050”. China will continue to lead the chart with its GDP rising from $21.3 trillion to $47.4 trillion by 2040.

What will be the US GDP in 2040?

According to the CBO, the United States GDP will increase steadily over the next decade from 22.37 trillion U.S. dollars in 2021 to 36.68 trillion U.S. dollars in 2032. The annual GDP of the United States for recent years can be found here. Also, view the monthly inflation rate for the country.

The IMF's World Economic Outlook earlier said the size of the Indian economy will increase from $3.2 trillion in 2021-22 to $3.5 trillion in 2022-23 and cross $5 trillion in 2026-27.

According to the latest available data from the World Bank, the United States of America is currently the world's largest economy, with a GDP of over $23 trillion in 2021.

The IMF monitors the international monetary system and global economic developments to identify risks and recommend policies for growth and financial stability. The Fund also undertakes a regular health check of the economic and financial policies of its 190 member countries.

GDP Annual Growth Rate in the United States averaged 3.13 percent from 1948 until 2023, reaching an all time high of 13.40 percent in the fourth quarter of 1950 and a record low of -8.40 percent in the second quarter of 2020.

This statistic shows the projected top ten largest national economies in 2050. By 2050, China is forecasted to have a gross domestic product of over 58 trillion U.S. dollars.

Vision 2025 is to make Sri Lanka a rich country by transforming Sri Lanka into the hub of the Indian Ocean, with a knowledge-based, highly competitive, social-market economy. We will create an environment where all citizens have the opportunity to achieve higher incomes and better standards of living.

Sri Lanka gdp for 2021 was $88.93B, a 4.19% increase from 2020. Sri Lanka gdp for 2020 was $85.35B, a 4.12% decline from 2019. Sri Lanka gdp for 2019 was $89.01B, a 5.8% decline from 2018. Sri Lanka gdp for 2018 was $94.49B, a 0.12% increase from 2017.

What will be the per capita income of Sri Lanka by 2030?

Sri Lanka aiming to double per capita income to US$ 8,000 by 2030 – President.

less the same; however, Pakistan's economy is around 4 times that of Sri Lanka's with a relatively larger agriculture sector. However, due to it's larger population, the per capita income of Pakistan is lower than that of Sri Lanka.

Sri Lanka scores high on Human development index. India's GDP (PPP) is very high because of the high population that is also relatively young. So, each country has some advantages over the other.

Economy. India has a GDP per capita of $6,100 as of 2020, while in Sri Lanka, the GDP per capita is $12,500 as of 2020.

The survey reveals that the average household income per month was Rs. 62,237 in 2016 in Sri Lanka. The median house- hold income per month in Sri Lanka has been reported as Rs. 43,511 in 2016.

It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Sri Lanka gdp per capita for 2021 was $4,014, a 3.08% increase from 2020.

What will be the biggest economy in 2050?

As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by China (1st), India (2nd) and Indonesia (4th) The US could be down to third place in the global GDP rankings while the EU27's share of world GDP could fall below 10% by 2050.

1,411,750,000 (31 December 2022 est.) $19.373 trillion (nominal; 2023 est.)