Sri Lanka’s First Quarter GDP (Infographic)
Sri Lanka’s GDP increased by 7.9% in the first quarter of 2012. But what does this mean exactly? I made the following infographic to explain. Click to see a larger and clearer image. I used data from The Department of Census and Statistics, The World Bank and Trading Economics. (*Image updated to correct a mistake in Sri Lanka’s annual GDP, which was showing the 2010 figure – 50bn).
UPDATE – Small error on the 4th tier where it says ‘Rupees Million’, Read that as ‘Rupees Billion’. Until I get around to editing it (Corrected – Jul 19).
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GDP growth is measured in real terms that is after taking into account inflation. So is 7.9% real GDP growth or not?
7.9% is real growth. The yellow circle in the second line, i thought, mentioned that it was minus inflation
Great info graphic machan but I think you’ve got the quarterly figures wrong – Sri Lanka certainly produces more than Rs 750 million worth of goods and services in a quarter. Given that our GDP was $50 billion last year, we should be doing around $12.5 billion (i.e. Rs. 1.5 trillion) each quarter.
You’re right. Printing mistake. It should be 750 billion not million. But still you will notice that it falls short of the 60 bn mark. That’s because 60bn is nominal GDP, i.e. including the effects of inflation. When looking at growth we do away with inflation to get a better idea of the underlying (i.e. real) growth of the economy. And therefore use 2002 prices.