Sri Lanka’s third quarter GDP expands 8.4 percent

Dec 21, Colombo: The economic output of Sri Lanka as measured by Gross Domestic Product (GDP) for the 3rd Quarter 2011 has recorded an 8.4 percent growth compared to the same quarter in 2010, according to the data released by the Department of Census and Statistics Wednesday.

In the third quarter of 2011 the highest contribution to the GDP was from the service sector with a 59.2 percent while the industry sector’s contribution was 29.1 percent and agriculture sector contributed 11.7 percent.

The services sector at current market prices has brought in US$ 8.53 billion to the Q3 GDP of US$ 14.47 billion. Contribution from industry sector stood at US$ 4.21 billion and agricultural sector contributed US$ 1.73 billion.

In Q3 the country exported goods valued at US$ 2.67 billion while imported US$ 5.18 billion worth of goods. Imports of investment goods such as building materials, vehicles, machinery and equipment at CIF value cost the country US$ 1.24 billion.

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