Sri Lanka's 1st Quarter GDP records 7.9% growth
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- Created on Wednesday, 20 June 2012 11:18
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Data released by the Department of Census and Statistics yesterday showed that the Sri Lankan economy has expanded by 7.9 % at a steady pace in the first quarter of this year.
Central Bank sources commenting on this economic growth said that it is better than what they expected.
As per the statistics released by the Census and Statistics Department the agriculture sector has registered a growth of 11.5 percent annually during the quarter, the industrial sector by 10.8% and the services sector 5.8% during the three-month period.
At the same time, the country’s gross national product (GNP), which is the total value of all final goods and services produced within a particular period has grown by 8.2% compared to 8.4 percent during the first quarter last year.
Meanwhile, the Economic analysts have said that Sri Lanka’s gross domestic product (GDP) grew at a faster than expected pace in the first quarter of 2012, but tough policy measures and an uncertain global economic outlook threaten the full-year growth prospects.(niz).
