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* Sri Lanka economy grew at an estimated rate of 2.3 percent in 2019
Thu, Apr 2, 2020, 11:29 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 02, Colombo: Sri Lanka’s economy grew at an estimated rate of 2.3 percent in 2019, the Department of Census and Statistics (DCS) said in a report released Tuesday.

The Department of Census and Statistics has released the estimated Gross Domestic Product (GDP) and other macroeconomic indicators for the fourth quarter of 2019 and for the year of 2019.

The Gross Domestic Product for Sri Lanka for the year of 2019 (January to December) at constant (2010) price has reached up to Rs. 9,889,379 million while GDP value reported for the year of 2018 was Rs. 9,668,600 million.

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 price by 7.4 percent, 27.4 percent, 58.2 percent and 6.9 percent respectively for the year of 2019.

During the year of 2019, Industrial activities expanded favorably by 2.7 percent compared to the 1.2 percent of growth recorded in the Industrial activities in the year of 2018.

Meanwhile the Services activities grew by 2.3 percent further during the year of 2019. However, the Agricultural activities have reported slight positive expansion by 0.6 percent compared to the 6.5 percent of high growth recorded in the year of 2018.

The DCS however, cautioned that further verifications to the estimated figures are essential since the relevant officers of the Department had to work from their homes using the telephone and internet facilities to prepare the reports due to the government imposed general curfew and work restrictions to contain spreading of COVID-19 pandemic.

Full report

 

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