Western province increases share in nominal GDP to 43.4 %

Western province increased its share in nominal GDP to 43.4 %, continuously tightening the grip on the country’s economy during 2022. The strong presence of the Western province is visible in most of the economic activities, especially in Services and Industry sectors.

Thereafter, North Western (11.2%) and Central (10.%) provinces recorded second and third highest shares in the economy, respectively, the Central Bank said.

The contributions to nominal GDP from Western, North Western and Uva provinces increased in 2022 compared to 2021, while that of North Central province remained unchanged. Moreover, the Nominal GDP of all the provinces grew substantially during the year, mainly attributable to the significant increase in price levels.

Considering the provincial contributions, North Western provinces recorded the highest contribution to Agriculture activities with a share of 18.3 %, while Southern and Central provinces contributed by 14.6 % and 13.7 %, respectively. Meanwhile, Western province remained the largest contributor to Industry activities, recording a share of 49.2 % in 2022.

Further, North Western (11.8%) and Central provinces (9.1%) were the next major contributors to the total Industry activities. In terms of Services activities, Western provinces continued its dominance with a share of 45.2 %, followed by Central (10.0%) and North Western (9.8%) provinces.

Services activities predominantly contributed to the economies of all the provinces. Accordingly, Southern (59.9%) and Western (58.55) provinces recorded the highest Services shares. Regarding the Industry activities, the highest concentration was observed in Western provinces (34.4%),

followed by North Western provinces (32.0%). Meanwhile, the contribution for Agriculture activities is higher in Eastern (17.2%) and Uva (15.5%) provinces compared to other provinces.

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