Sri Lanka’s Western Province continued to dominate the national economy in 2024, accounting for 42.4 per cent of nominal Gross Domestic Product (GDP), even as other provinces increased their combined contribution, according to the latest Provincial Gross Domestic Product (PGDP) estimates released by the Central Bank of Sri Lanka.
The country’s nominal GDP rose to Rs. 29,899 billion in 2024 from Rs. 27,420 billion in 2023, reflecting broad-based growth across provinces. While the Western Province remained the largest economic hub, driven by strong activity in the Services and Industry sectors, its overall share declined slightly from 44.0 per cent in 2023, signalling gradual regional diversification of economic activity.
The North Western Province emerged as the second-largest contributor to the economy with an 11.5 per cent share, followed by the Central Province at 10.7 per cent. Notably, the Central, Eastern, North Western, Sabaragamuwa and Uva provinces all recorded higher contributions to nominal GDP compared to the previous year, indicating improved regional economic performance.
From a sectoral perspective, the North Western Province remained the leading contributor to agricultural output, accounting for 20.0 per cent of national agricultural activity in 2024. The Central and Southern provinces followed, contributing 13.9 per cent and 11.8 per cent respectively. In Industry, the Western Province continued to dominate with a substantial 47.6 per cent share, while the North Western (12.0 per cent) and Central (9.6 per cent) provinces ranked next. Services activity was also heavily concentrated in the Western Province, which accounted for 44.5 per cent, ahead of the Central Province (10.7 per cent) and the North Western Province (10.1 per cent).
Economists note that while the Western Province remains the engine of Sri Lanka’s economy, the increasing contributions from other regions highlight the importance of balanced regional development. Continued investment in agriculture, regional industry and services outside the Western Province is seen as critical for sustaining inclusive economic growth in the coming years.
Source: CBSL – press_20251222_pgdp_2024_e.pdf.
