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| Tuesday, 23 November 2004 |
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GDP in construction and mining sectors grows in 2Q, 2004 by Ramani Kangaraarachchi The Gross Domestic Product (GDP) of the construction and Mining sectors continued to grow during the second quarter of 2004 according to the Chamber of Construction Industry Sri Lanka. The construction sector continued to grow at a higher pace, seven per cent during the second quarter. The growth was largely due to the increase in housing construction activities and refurbishment and expansion in the hotel sector catering to the anticipated increase in tourist arrivals, the report said. The growth in construction activities was reflected in the production and sale of construction materials and high imports of building materials. The Mining and Quarrying sector has grown by 7.9 per cent, compared with a decline of 2.4 per cent in the corresponding quarter of the previous year. The mining of gems and other minerals, which suffered a setback last year due to the floods during that period in key gem mining areas, was able to resume activities to its full potential from this year. The quarrying sub sector continued to expand as the demand for its product grew with its enhanced construction activities. |
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