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Friday, December 18, 2009 - 7.22 GMT |
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Sri Lanka GDP
records growth |
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Sri
Lanka's
economic
growth
rose 4.2
percent
in the
third
quarter
of 2009
from 2.1
percent
in the
second
quarter,
the
Government's
Statistics
Department
said
today
(18
Dec).
"Peace
is a key
aspect
that
drove
the
economy
during
this
quarter.
The
stock
market
and
hotels
sector
improved
and
investment
sentiment
improved
during
the
quarter,"
Deputy
Statistics
Director,
Nalini
Kumarasinghe
told a
news
conference.
Industry
expanded
by 4.4
percent
in which
manufacturing
grew by
3.2
percent
and
services
grew by
5.1
percent
from
2008,
the
Department
further
stated.
Growth
in
sectors
which
are not
dependent
on
foreign
demand,
like
fisheries
and
dairy
farming,
was
above
five
percent
in the
third
quarter
of 2009
compared
to 2008,
Kumarasinghe
continued.
Electricity,
gas and
water
supplies
grew by
6.7
percent,
with the
increase
of power
value
addition
due to
higher
hydro
production.
In the
services
sector,
in the
third
quarter
of 2009,
wholesale
trade
grew 3.4
percent,
the
import
trade
fell by
1.5
percent
and
exports
grew 0.7
percent
compared
to 2008,
Deputy
Statistics
Director
said.
Domestic
trade
increased
8.7
percent
while
hotels
and
restaurants
by 20.6
percent.
Kumarasinghe
said
domestic
trade
grew
rapidly
because
of the
revival
of trade
in the
North
and East
which is
recovering
from 30
years of
war and
lower
interest
rates
have
helped
drive
investment.
She
further
stated
that the
north
and east
made a
"very
positive
contribution"
to
economic
growth
during
the
third
quarter.
The
banking
and
insurance
sector
grew by
6.8
percent,
the
statistics
office
said.
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