Sri Lanka’s economic growth in the last 3 decades was relatively strong, considering that it took place during a 26-year civil conflict. Economic growth averaged 5% during 1971–2015. Sri Lanka also made major strides in reducing poverty, with the poverty rate declining from 28.8% in 1995/96 to 6.7% in 2012. Sri Lanka’s growth experience, as in many economies at its stage of development, was underpinned by structural transformation that boosted productivity. The share of the less-productive agriculture sector declined steadily from an average of 29.8% in the 1970s to an average of 8.5% in 2013–2015.
|Title of host publication||The Sri Lankan economy: charting a new course|
|Editors||P Athukorala, E Ginting, H Hill & U Kumar|
|Place of Publication||Metro Manila, Philippines|
|Publisher||Asian Development Bank|
|Publication status||Published - 2017|