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Thursday, August 09 , 2012 - 5.15 GMT
North records highest growth rate in 2011

 

While all provinces of Sri Lanka recorded double digit growth rates in Provincial Gross Domestic Product (PGDP) in 2011, Northern Province has recorded the highest growth rate of 27.1 per cent, in nominal terms, the Statistics Department of Central Bank said.

The Western Province led the highest contribution to the country's GDP which in 2011 grew by 8.3 per cent at constant prices.

The GDP in 2011 amounted to Rs. 6.543 trillion (US$ 59.5 billion) with a per capita income of Rs. 313,511 (US $ 2,836), according to the Central Bank.

Although per capita income of all provinces have increased in 2011, the Western Province earned Rs. 490,724 (US$ 4,424), 1.6 times more than the national average.

The PGDP of Western Province grew 15.6 percent in 2011 and contributed 44.4 percent to the total GDP. The share of the Western Province in the GDP, declined further in 2011 from 44.8 percent in 2010 reducing disparities between provinces.

The contribution of the Northern Province to the GDP has increased from 3.4 percent in 2010 to 3.7 in 2011 due to the expansion in agriculture, fishing, construction, transportation and financial services.

The North Western and Southern provinces had the next highest growth rates 21.9 and 21.4 percent respectively, with increased shares of the GDP, 10.0 and 11.1 percent respectively. The two provinces benefitted from greater contributions from trade, manufacturing, financial services and transport while the Southern province largely benefitted from the high growth momentum in the construction sector.

The increased economic activities due to major infrastructure development projects including Southern highway, Mattala airport and Hambantota port, as well as better performance in the tourism sector contributed largely to the high growth of 21.4 per cent in the Southern province GDP.

However, the nominal growth rates of the Eastern and North Central provinces declined by 12.4 and 14.5 percent respectively due to the adverse weather prevailed in the first quarter of 2011 affecting the growth in Agriculture sector. The PGDP of Central Province also declined due to the drop in hydropower generation in the second half of 2011.

Contribution to the GDP from the Sabaragamuwa Province also declined marginally in 2011 recoding 6.2 percent while the province decelerated in growth from 19.1 percent in 2010 to 15.7 percent in 2011.







 

 
 
   
   
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Last modified: August 09, 2012.

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