GDP estimates for the third quarter of 2020 to be released in December

GDP estimates for the third quarter of 2020 to be released in December

GDP estimates for the third quarter of 2020 to be released in December

Written by Zeenath Musafer

19 Oct, 2020 | 2:51 pm

Colombo (News 1st);  Second-quarter GDP estimates will be released on the 15th of December this year, along with the GDP estimates for the third quarter of 2020, said the Department of Census and Statistics.

In its statement, the Statistics Department added that the second quarter of 2020, which includes the time frame between the 1stof April and 30thof June, was the period during which Sri Lanka was completely or partially under lockdown for approximately two months due to Covid-19.

It added that estimating second-quarter GDP values against such a backdrop where economic activities had taken place in a different manner, requires input from international consultants.

”In this context, it is imperative to discuss with international consultants the methods of estimating the output value of certain industry and services activities,” the Statistics Department said.

It has also decided to collect data on certain economic activities from other sources.

The Statistics Department said these measures ”will take a considerable amount of time” and ensure the accuracy of the estimates.

Sri Lanka witnessed its 1st quarter GDP contract to negative 1.6 percent this year, ahead of the Covid-19 impact on the island nation.

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