Sri Lanka

Lanka's economic growth grew 1.6% in 2nd quarter

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Sri Lanka's economy grew only 1.6 percent during the second quarter of this year, reflecting the impact of Easter Sunday attacks on April 21st 2019, the Department of Census and Statistics (DCS) said Wednesday releasing the GDP Summary Indicators for the quarter from April-June.According to the National Accounts Estimates released by the DCS, the Gross Domestic Product (GDP) for the second quarter of 2019 at current price reached up to Rs.

3.62 trillion and the GDP reported for the second quarter of 2018 was Rs.

3.49 trillion. The service sector recorded the ever reported lowest growth rate for the second quarter series since 2010.

The highest impacts are observed on 'Accommodation, food and beverage service activities' along with 'Transportation of goods and passengers including warehousing'.The four major components of the economy - Agriculture, Industry, Services and Taxes less subsidies on products has contributed their share to the GDP at current price by 7.4 percent, 25.8 percent, 59.5 percent and 7.4 percent respectively in the second quarter of 2019.

During the second quarter of 2019, the Agriculture, Industry and Services activities continued to expand further by 1.0 percent, 1.4 percent and 1.6 percent respectively.




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Category: Srilanka


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