Western Province Leads, Other Regions Slowly Catch Up

Sri Lanka’s Western Province continued to dominate the national economy in 2024, contributing 42.4% of nominal GDP, down slightly from 44% in 2023, according to provisional data from the Central Bank. Other regions, including the North Western (11.5%) and Central (10.7%) provinces, increased their share, reflecting steady economic diversification.

Total nominal GDP reached Rs. 29.9 trillion, up from Rs. 27.4 trillion in 2023. Industrial and services activities remain concentrated in the Western Province, accounting for nearly half of national output, while the North Western Province led agricultural production.

Analysts note that while gains in other provinces are positive, the heavy reliance on the Western Province underscores the need for targeted policy measures to strengthen regional economies. With strategic investments in industry, services, and agriculture outside the Western hub, Sri Lanka aims to achieve more balanced economic growth in 2026.

 

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