The services sector made the biggest contribution to economic growth last year.
The sector that accounted for a little over forty percent of economic activity when the country adopted a market economy, today accounts for nearly 55 percent of the countrys GDP.rn
rnOver 54 percent of the countrys GDP is accounted for by the service sector. rn
rnIn 1978 the service sector only contributed 43.9 percent but steadily increased to from 48.2 percent in 1988 to 52.8 percent in 1997.rn
rnThe service sector also made the biggest contribution to economic growth this year closely followed by the industrial sector with agriculture being a distant third.rn
rnBucking this growth in the sector was Telecommunications sub sector that grew at a blistering 24 percent.rn
rnldblquote The service sector was the largest contributor to the economy in 2003. The growth came basically in the telecommunication industry and in the wholesale and retail trading,
dblquote W. A. Wijewardena, Deputy Governor, Central Bank said