Source: world bank Nominal/PPP
Summary:
Sri Lanka GDP Per Capita expanded from 1960 to 2024, increasing from $1.41 to $98.96 .The compound annual growth rate (CAGR) averaged 6.87% over the period. The economy recorded its peak level in 2024 and its lowest level in 1963. Growth volatility remained high. The maximum drawdown reached 33.41%, indicating the largest cyclical decline from peak levels. The country experienced 9 recession episode(s) during the observed period.
Sri Lanka Economic Phases (1960 - 2024)
From 1960 to 2024, Sri Lanka economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1964–1965) indicating robust economic expansion
- High Growth (1969–1970) indicating robust economic expansion
- High Growth (1972–1975) indicating robust economic expansion
- High Growth (1979–1984) indicating robust economic expansion
- Expansion (1987–1989) indicating steady moderate growth
- High Growth (1990–1997) indicating robust economic expansion
- High Growth (2003–2008) indicating robust economic expansion
- High Growth (2010–2011) indicating robust economic expansion
- High Growth (2013–2014) indicating robust economic expansion
- Expansion (2015–2016) indicating steady moderate growth
- Contraction (2019–2020) indicating temporary slowdown
- High Growth (2023–2024) indicating robust economic expansion
The most remarkable growth occurred in 2010 with an increase of 39.39%, while the largest decline was in 1978 at -33.41%.