- Increases share in nominal GDP to 43.4% in 2022, from 42.6% in 2021
The Western province maintained its status as the foremost contributor to Sri Lanka’s economy in 2022, further solidifying its position by increasing its share in nominal GDP from 42.6 percent in 2021 to 43.4 percent.
The latest provincial gross domestic product (PGDP) estimates released by the Central Bank yesterday showed the strong presence of the Western province in most of the economic activities, specially in the services and industry sectors.
The second and third largest contributors to the economy in 2022 were the North Western (11.2 percent) and Central (10.0 percent) provinces.
The contributions to nominal GDP from the Western, North Western and Uva provinces increased in 2022 compared to 2021, while that of the North Central province remained unchanged.
The Nominal GDP of all the provinces grew substantially during the year, mainly attributable to the significant increase in price levels.
The North Western province recorded the highest contribution to agriculture activities with a share of 18.3 percent, while the Southern and Central provinces contributed by 14.6 percent and 13.7 percent.
The Western province remained the largest contributor to industry activities, recording a share of 49.2 percent in 2022. Further, the North Western (11.8 percent) and Central provinces (9.1 percent) were the next major contributors to the total industry activities. In terms of services activities, the Western province continued its dominance, with a share of 45.2 percent, followed by the Central (10.0 percent) and North Western (9.8 percent) provinces. Service activities predominantly contributed to the economies of all the provinces. The Southern (59.9 percent) and Western (58.5 percent) provinces recorded the highest services shares.
The highest concentration in industry activities was observed in the Western province (34.4 percent), followed by the North Western province (32.0 percent). Meanwhile, the contribution for agriculture activities was higher in the Eastern (17.2 percent) and Uva (15.5 percent) provinces compared to other provinces.
