Saturday, 14 September 2013 04:32
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The country’s economy has grown by 6.8% in the second quarter from a year earlier, accelerating from 6% in the first quarter of 2013.
The Department of Census and Statistics said yesterday the economic output of Sri Lanka as measured by Gross Domestic Product (GDP) for the Q2 (April‐June), of 2013 at constant (2002) prices is estimated at Rs. 779,974 million as against Rs. 730,641 million in Q2 2012, registering a 6.8% growth.
The Agriculture sector, one of the three major sectors of the economy, recorded a negative1.1% growth in the reference quarter. Industry and Services sectors recorded 10.1% and 6.6% increases respectively in the reference quarter. The sub sectors which registered relative significant growth among the major sectors in the Q2 2013 were Mining and Quarrying 12.6%, Electricity, Gas and Water 16.2%, Construction 17.8%, Hotels and Restaurants 21.1%, Transport and Communication 9.5% and Banking, Insurance and Real Estate 6.3%.
The percentage share of the three major sectors – Agriculture, Industry and Services – to total GDP reported as usual at 10.7%, 30.2% and 59.1% respectively.
The index number of GDP implicit price deflator (2002=100) rose to 254.7 in Q2 2013, from 239.7 in the same quarter of 2012, registering an inflation rate of 6.3% for Q2 2013.
The Colombo Consumers’ Price Index (2006/2007=100) which reflects the average price level of consumers’ goods increased to 173.5 in Q2 2013 from 162.4 in Q2 of 2012.
Accordingly, the inflation rate is recorded as 6.8% for Q2 2013 whereas it was 7.5% in the corresponding quarter of 2012.
The Agriculture, Forestry and Fishing sector decreased by 1.1% in the second quarter of 2013. This sector recorded 8.5% growth in the same quarter in 2012.
The real terms value added of the industry sector grew by 10.1% in Q2 2013 as against the 9.5% growth in Q2 2012. The Manufacturing sub sector which is the highest contributor to the Industry sector grew by 5.3% in the Q2 of 2013.
The overall Services sector grew only by 6.6% in the reference quarter. This sector grew by 4.5% in the same quarter of 2012.
