|
|
|
 |
 |
 |
| Saturday, 01 January 2005 |
 |
|
 |
News | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
The Central Bank of Sri Lanka yesterday announced that the Sri Lankan economy grew by 5.0 per cent in real terms in the third quarter of 2004. The services sector which has continuously recorded over 6 per cent quarterly growth during the last two years and grew by 7.5 per cent contributed most to the overall economic growth. The transport, storage and telecommunications, with 15 per cent growth, was largely driven by performance in the telecommunications and ports services sub sectors. Telecommunications which has continued to grow at a high pace expanded further by 34.6 per cent in this quarter. Growth in the factory industry sub sector which covers large and medium scale enterprises by 7 per cent was mainly responsible for this development. Of the factory industries, the apparel sub sector recorded 11.2 per cent growth while other export oriented industries such as rubber and plastic products also performed well. Tea production dropped by two per cent. Out put of both high and medium elevation declined while low elevation production increased by 7.3 per cent. The output of rubber increased by 5.5 per cent in response to the improvement in international prices. Coconut production which has gradually improved since the second quarter of 2003 recorded a drop of 5.8 per cent in the current reference period. (RK, AS) |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
