Sri Lanka economy grew 8.0-pct in 2010

Mar 29, 2011 (LBO) – Sri Lanka’s Gross Domestic Product (GDP) grew eight percent in 2010, up from 3.5 percent the year before, the Department of Census & Statistics (DCS) said in a statement. The Department of Census & Statistics said the agriculture sector grew 7.0 percent in 2010, industry at 8.4 percent and services at 8.0 percent.

The share of agriculture in GDP was 11.9 percent, that of industry 28.8 percent and services 59.3 percent.

The department said growth of the industry and services sectors was the highest-ever since 2002.

The tea sector grew 13.1 percent in 2010, rubber 12.7 percent and minor export crops 37.6 percent.

The paddy sector grew 17.5 percent, fishing 12.2 percent, mining and quarrying 15.5 percent and construction 9.3 percent.

The paddy sector growth came after a contraction of 5.1 percent in 2009.

The gross extent sown and gross extent harvested increased by 9.0 percent and 12.5 percent in 2010 over the previous year.

It attributed the recovery to higher paddy prices, adequate water supply, resumption of cultivation in paddy fields, especially in Northern and Eastern Provinces after the end of the ethnic war.

“Pro-agri