Jul 5, 2023
Gross Domestic Product (GDP) at market prices in 2023 is expected to grow by 5.3% instead of 5.0% as forecasted in March 2023 and Gross Value Added (GVA) at basic prices in 2023 is expected to grow by 5.2% instead of 5.0% as forecasted in March 2023.
In March 2022, GDP growth at market prices was initially estimated at 8.7%. However, there has been an upward revision in the estimates. GDP at market prices grew at a higher rate of 8.8% in 2022 compared to 3.4% in 2021 and GVA at basic prices expanded by 9.8% in 2022, higher than the 4.0% growth in 2021.
FORECAST
GDP at market prices in 2023 is expected to grow by 5.3% instead of 5.0% as forecasted in March 2023. GVA at basic prices in 2023 is expected to grow by 5.2% instead of 5.0% as forecasted in March 2023.
Gross Value Added (GVA) at current basic prices for the first quarter of 2023 stood at Rs 126.7 billion, compared to Rs 111.5 billion for the corresponding quarter of 2022.