July 10, Colombo: The Central Bank of Sri Lanka (CBSL) compiling Gross Domestic Product at provincial level (PGDP) for 2007 reports of less inter province inequality.

CBSL issuing a press release reported that during 2007, the contribution to the national GDP by the Western Province dropped further from 50.1 per cent in 2006 to 48.4 per cent in 2007, while contribution from all other provinces except North Central province increased over the previous year.

Southern province and North Western provinces contributed 10.5 per cent and 9.6 per cent to the GDP in 2007 compared to 10 per cent and 9.1 per cent in 2006. Meanwhile, the Central province, Sabaragamuwa province, Uva province, Eastern province and Northern Province also recorded some improvements even though the contribution of each of these five provinces to total GDP still remained at less than 10 per cent.

Central Bank said the data revealed that there has been an overall improvement in terms of provincial contribution to the national GDP towards reducing regional disparity but the Western Province continued to dominate as the main income earner and key spending province of the country resulting from the concentration of its huge resource base such as infrastructure facilities, banking and finance, industries, business centers, airports and the main sea port.

The national GDP, measured as the aggregate of the provincial GDP, has grown by 21.7 per cent in 2007, reaching Rs.3,577 billion with a per capita income of Rs.178,783, the Bank reported.