Sri Lanka registers 8% GDP growth

Sri Lanka has registered the second highest ever GDP growth in two decades at 8 per cent in 2010, an over two-fold jump against 3.5 per cent last year.

“The highest ever achieved GDP growth in the history of the country was 8.2 per cent and it was recorded in the years 1968 and 1978,” the Department of Census and Statistics said today in a statement.

The high growth was a result of the three major sectors — agriculture, industry and services — registering 7 per cent growth in the year, it said.

The number of tourist arrivals increased by 46 per cent over 2009, the highest ever since 1969, the statement said.

The number of new vehicles imported to the country grew by 76 per cent as opposed to a decline of 23 per cent drop in 2009.

The government introduced major import tariff slashes to encourage imports to promote growth in the post-conflict economic climate, since the end to the war with the LTTE.

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