Sri Lanka records 7.3% growth in GDP last year

M, Colombo: The economic output of Sri Lanka as measured by GDP for the year 2013 recorded as 7.3 percent growth while in the fourth quarter of 2013 economy grew at a significant 8.2 percent, the Census and Statistics Department’s latest report said.

The Industry Sector led the growth at 9.9 percent year-on-year (YoY) followed by the Services Sector at 6.4 percent while the Agriculture Sector grew at a rate of 4.7 percent YoY.

In Industry Sector, Mining and Quarrying recorded 11.5 percent growth YoY and Manufacturing grew 7.5 percent YoY. Textile, Wearing apparel & leather industry grew by 8.9 percent in 2013.

Cottage industries also showed a significant growth of 5.1 percent in 2013.

In Services sector, Hotels and Restaurants industry showed a strong growth of 22.3 percent YoY in 2013. Port and Telecommunications also posted a significant growth of 11.4 percent YoY last year.

In Agriculture Sector Tea industry showed a modest growth of 3.6 percent YoY in 2013 while both coconut and rubber production showed a decline. Rice production grew significantly by 19.5 percent YoY and Minor Crops showed a growth of 8.5 percent in 2013.

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