Sri Lanka GDP grows 7.3-pct in 2013, 8.2-pct in 4Q: census dept

Mar 17, 2014 (LBO) – Sri Lanka’s gross domestic product grew 7.3 percent in 2013 with the economy estimated to have grown 8.2 percent in the fourth quarter from a year earlier, the state statistics office said. For the full year, agriculture grew 4.7 percent, industry 9.9 percent and services 6.4 percent.

Sri Lanka is recovering from a balance of payments crisis triggered by a central bank accommodated credit bubble fired mostly to subsidize energy by state enterprises.

There a growing controversy regarding Sri Lanka’s state statistics, particularly GDP data, and whether they are inflated.

Updated II The statistics office said agriculture grew 10.4 percent, industry 10.7 percent and services 6.5 percent.

In agriculture tea grew 6.5 percent, rubber 18.7 percent and paddy 57.2 percent recovering from a 39.9 percent contraction in the same quarter a year earlier.

Fishing grew 8.2 percent with inland fisheries up 78.8 percent.

Industry grew 10.7 percent, manufacturing grew 11.9 percent with factory industry up 12.1 percent.

Electricity, gas and water expanded 3.6 percent and construction was up 12.5 percent down from 33.8 percent a year earlier.

In services, wholes