Dec 15, 2015 (LBO) – Sri Lanka’s gross domestic product expanded 4.82 percent in the third quarter of 2015 from a year earlier, the state statistics office said.
The statistics office said agriculture grew 6.9 percent, industries by 6.2 percent and services by 3.4 percent.
The economic growth rate of the country for the first three quarters has been estimated as 5.2 percent.
Among Agriculture sub activities, ‘Growing of rice’ reported a very high growth (61.1 percent) and ‘Growing of oleaginous fruits; including coconut’ reported 7.9 percent of increase during the quarter.
‘Growing of tea’ and ‘Marine fishing’ suffered major falls in the growth rates as 3.9 percent and 8.6 percent respectively during this quarter.
Among the industrial activities, the sub activities of ‘Mining and quarrying’, ‘Manufacture of food, beverages and tobacco’ and ‘Manufacture of wood and products of wood’ have shown a striking increase of 9.6 percent, 8.8 percent and 35.2 percent respectively, during the third quarter.
In addition the ‘Manufacture of textile and wearing apparel’ and ‘Manufacture of chemical products’ activities have reported a decline of 2.4 percent and 4.2 percent respectively, over the period of under consideration.
During the third quarter, sub activities of ‘Telecommunication’, ‘Financial service activities’, ‘Insurance, reinsurance and pension funding’ and ‘Wholesale and retail trade’ have experienced a significance increase in the growth rates by 18.9 percent, 11.1 percent, 16.1 percent and 5.6 percent respectively.
The sub activities of ‘Accommodation, food and beverage serving activities’, Professional services’, ‘Education’ and ‘Human health activities’ experienced declines of the growth rates by 1.7 percent, 19.6 percent, 9.2 percent and 6.7 percent respectively, during the period.