Industrial sector records 5.9 p.c growth

The output of the Industrial sector has grown by 5.9 per cent during the first half of 2005 and this growth has been broad-based and balanced across export and domestic market-oriented industries.

Growth in the services sector also continues reflecting the growth momentum in the major sub sectors such as port services, telecommunications and transport according to the Central Bank in September Monetary Policy review.

The growth momentum in all major sectors of the economy also continued with tea and rubber production increased significantly in the first half.

Subsidiary food crops also performed well during the 2004/05 Maha season.

Exports continued to expand during the first seven months of the year. Export earnings grew by 10.7 per cent to US dollars 560 million in July 2005, outperforming the 2.5 per cent growth recorded in July 2004.