Sri Lanka’s latest economic growth

June, 16, 2015

Sri Lanka’s economy has grown by 6.4 per cent during the first quarter of this year and the services sector has contributed more than half towards the island’s Gross Domestic Product (GDP), says the Department of Census & Statistics.

When compared to the first quarter of 2014, during the first quarter of this year tea production has shown a growth of 7.1 per cent, other food and agrarian production 4.9 per cent and coconut production 2.6 per cent.

Apart from this, there has been a growth of 6.6 per cent in the manufacturing sector, 9.5 per cent in the electricity, gas, water sector, 4.1 per cent in the construction sector, 11.9 per cent in wholesale and retail trade, 4.0 per cent in the transport and communications sectors, 5.8 per cent in the insurance sector and 6.9 in the government services sector.

However, there has been a severe drawback in the rubber and fisheries sectors during the first quarter of 2015.