Statistical website of Sri Lanka

ජනලේඛන හා සංඛ්‍යාලේඛන දෙපාර්තමේන්තුව

தொகைமதிப்பு மற்றும் புள்ளிவிபர திணைக்களம்

Department of Census and Statistics


Socio Economic Indicators Area and Climate Population Vital Statistics Labour and Employment Agriculture, Forestry and Fisheries
Industrial Production, Construction and Energy Transport and Communication Prices Trade and Balance of Payments National Accounts
Finance and Banking Co-Operative Development Social Conditions Education Local Government Electorates Tourism
CHAPTER X - NATIONAL ACCOUNTS
INTRODUCTION

The Department of Census and Statistics (DCS) is the authorized institute for compilation of National Accounts for Sri Lanka. The DCS uses the latest recommendations of UN on compiling national accounts which are given in the System of National Accounts (2008).

The base year for national accounts of Sri Lanka is 2010, which means for GDP at constant prices in the existing method is calculated by using the price structure of year 2010. According to the international practice of changing base year at least at five year intervals, the DCS has planned to move the base year from 2010 to 2015.

The rebasing exercise is the process, which replace present price structure to compile real GDP with a new or more recent year. While revising the base year, it is planned to make other improvements to uplift the quality of GDP estimates. As a result of this exercise, accuracy of the national accounts estimates compiled by the DCS will be further improved.

 
ESTIMATION OF GROSS DOMESTIC PRODUCT (GDP)

Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period. It is the most widely used measure of the size of a country’s economy. GDP is usually calculated on an annual basis, and on a quarterly basis.

GDP includes all private and public consumption, government outlays, investments and exports minus imports that occur within a defined territory. Put simply, GDP is a broad measurement of a nation’s overall economic activities.

GDP can be determined in three ways, all of which should, in principle, give the same result. They are the production (or output or value added) approach, the income approach, and the expenditure approach.

 
Production approach

Total value added generated by resident units by engaging economic activities plus net taxes on products. According to the implementation of SNA 2008, estimates are compiled under 79 activities. Gross Value Added estimates are disseminated quarterly and annually for 48 economic activities.

 
Expenditure approach

GDP – Expenditure Approach measures the value of goods and services produced in terms of the expenditure or consumption by the various institutional sectors namely; Households (HH), General Government (GG), Financial Corporations (FC), Non – Financial Corporations (NFC), and Non–profit Institutions Serving Households (NPISH). GDP by Expenditure shows demand for goods and services and it stimulus to the economy. The Expenditure GDP links to welfare and production capacity of the country and with the rest of the world. GDP by Expenditure estimates based on the supply and use of goods and services and it is equals to GDP by economic activity at market or purchasers price.

 
Income approach

This measures the income earned by various economic agents for the supply of factors of production and other resources in an economy such as Compensation of Employees including Salaries and Wages (COE), Consumption of Fixed Capital (CFC), Gross Operating Surplus including profit (OS) and net taxes on production.

The addition of net factor income of rest of the world to the Gross Domestic Income (GDI) gives the Gross National Income (GNI) of the country.

 

 

Copyright @ Department of Census and Statistics
P O Box 121, Battamulla, Sri Lanka - Telephone: +94 112147000 - Email:information@statistics.gov.lk