Sri Lanka’s Western Province retained its position as the country’s economic powerhouse in 2024, contributing nearly half of the national output, though growth in other regions signaled a subtle rebalancing of economic activity. Provisional data from the Central Bank of Sri Lanka, based on Statistics Department estimates, show that the Western Province accounted for 42.4% of nominal Gross Domestic Product (GDP) last year, down from 44% in 2023.
The decline, while modest, reflects comparatively stronger growth in other provinces, particularly the North Western and Central regions. The North Western Province secured the second-largest share at 11.5%, followed closely by the Central Province at 10.7%. Other provinces also increased their economic contribution, with the Southern Province at 8.9%, Sabaragamuwa at 7.7%, and notable gains across Uva and Eastern provinces.
Sri Lanka’s overall nominal GDP grew to Rs. 29.9 trillion in 2024, up from Rs. 27.4 trillion in 2023, indicating a steady expansion of economic activity amid lingering post-pandemic recovery challenges. The Western Province generated Rs. 12.66 trillion of output, while the North Western and Central provinces produced Rs. 3.45 trillion and Rs. 3.20 trillion respectively.
Sectoral performance highlighted distinct provincial strengths. The North Western Province dominated agricultural production, contributing 20% of national agricultural value added, followed by the Central Province (13.9%) and Southern Province (11.8%). Industrial activity remained heavily concentrated in the Western Province, which accounted for 47.6% of total industry output, with North Western (12%) and Central (9.6%) provinces trailing. In services, the Western Province again led with 44.5% of national output, while Central (10.7%) and North Western (10.1%) maintained significant shares.
Economists suggest that while the Western Province continues to drive national growth, the rising contributions from other provinces may foster a more balanced regional development in the medium term. Analysts note that policy measures aimed at enhancing industrial infrastructure, agricultural productivity, and service-sector expansion in non-Western regions could sustain this diversification trend, with potential implications for employment generation and regional investment flows in 2026.
The Central Bank emphasizes that provincial GDP estimates are derived through a top-down approach, disaggregating national GDP figures based on relevant indicators, with 2024 figures currently classified as provisional. The data provides an early signal for policymakers seeking to prioritize resource allocation, regional investment, and sector-specific interventions as Sri Lanka navigates a year of economic consolidation.
