Sri Lanka records 2.7-pct growth in third quarter of 2019

GDP

Dec 19, 2019 (LBO) – Sri Lanka’s national accounts estimates of the third quarter still reflect the impact of ‘Easter Sunday Attack’ especially in some services sector related economic activities, the statistics office said.

When compared to the third quarter of 2018, the ‘Accommodation, food and beverage service activities’ even in this quarter have contracted substantially showing the negative impact of the Easter Sunday attack.

Issuing a communique, the Department of Census & Statistics states that the GDP growth rate for the third quarter of 2019 has been estimated as 2.7 percent.

The four major components of the economy; ‘Agriculture’, Industry’, Services’ and ‘Taxes less subsidies on products’ have contributed their share to the GDP at current prices by 6.9 percent, 26.8 percent, 60.0 percent and 6.2 percent respectively.

During the third quarter, Industry and Services activities recorded substantial growth rates of 3.3 percent and 2.8 percent respectively, while Agriculture activities recorded a slight positive growth rate of 0.4 percent.