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Thursday, April 29, 2010 - 5.59 GMT |
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SL's economic growth positive - Survey |
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According to the Department of Census and Statistic's "Annual Estimates of Gross Domestic Product -2009" Survey the economic output of Sri Lanka as measured by Gross Domestic Product (GDP) for the year 2009 recorded a 3.5 percent growth.
It is also revealed that the major division of economic activities, namely, Agriculture, Industry and Services registered positive growth rates of 3.2 percent, 4.2 percent and 3.3 percent respectively.
The economic activities which registered relative significant growth among the sectors in 2009 are, Rubber at 7.9 percent, Vegetables at 7.3 percent Fishing at 6.9 percent, Other mining at 18.1 percent, Hotels and restaurants at 13.3 percent, and Post and Telecommunication at 11.7 percent.
The percentage share of the three major sectors, the Agriculture, Industry and Services to the total GDP more or less remained unchanged being 12.0 percent, 28.6 percent and 59.3 percent respectively.
The estimated per-capita GDP at market prices (per capita income) for the reference year is Rs. 235,945 (U$ 2053).
The Annual Average Inflation rate as measured by the Colombo Consumers’ price index indicated 3.4 percent in 2009 whereas it was 22.6 percent in 2008 which was the highest rate ever recorded after 2002, (the year the new base year was introduced).
However, it should be noted that highest ever recorded drop of inflation since February 2004 was registered as low as 0.7 percent in the month of September 2009. GDP implicit price deflator (2002=100) of 2009 has significantly dropped to 5.7 percent which is the lowest value after 2002.
The total investment rate for the year 2009 was 24.5 percent. However, the government investment ratio has marked an increase of 6.6 percent in 2009 following 6.5 percent the year before.
The gross saving was up 23.7 percent in 2009 compared with 17.3 percent relatively low rate in 2008.
Private Final Consumption Expenditure at current prices was estimated at Rs.3, 103,806 million of 2009 as against Rs. 3,085,296 million in 2008. The Government Final Consumption Expenditure at current prices was estimated at Rs. 851,549 million in 2009 as against Rs. 713,788 million in 2008.
Gross Fixed Capital formation at current prices is estimated at Rs.1, 147,440 million of 2009, as against Rs. 1,115,310 million of 2008.
The Full report is found at;http://www.statistics.gov.lk/national_accounts/Press Release/press note summery 2009 English.pdf
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