Sri Lanka economic growth at 7.6-pct in 1Q 2014

(From L-R) Hussain Sadique –Chairman, SLRA / Group Director, Hameedia, Mano Tittawella –Senior Advisor, Ministry of Finance & Media, Ajith Amarasekera- Director, SLRA / CEO Swarnamahal, Leonard Michael Perera, Founder Convenor & Head of Business, SLRA Dinesh Perera-Director, SLRA / Deputy Director, Abans

June 16, 2014 (LBO) – Sri Lanka’s economy grew 7.6 percent in the first quarter of 2014 from a year earlier despite the agriculture shrinking, estimates by the state statistics office showed. Agriculture, Livestock and forestry shrank 1.2 percent but helped by a 13.3 percent from fishing, the sector showed a 0.2 percent growth.

Industry grew 12.6 percent, helped by a 16.5 percent growth in textile, wearing apparel and leather. Construction was estimated to have grown 22.5 percent. Electricity shrank 1.3 percent. Services grew 6.5 percent with export trade up 16.3 percent, hotels and construction grew 23.3 percent, transport and communications up 7.3 percent. Banking and insurance grew 5.1 percent and government services 0.9 percent.