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    GDP growth 2.9 percent in 3Q

    December 20, 2018

    The economic output of Sri Lanka as measured by Gross Domestic Product (GDP) for the 3rd quarter (Q3) from July-September of 2018 slowed to 2.9 percent year-on-year, the data released by the Census and Statistics Department Tuesday shows.It is the weakest performance recorded for a third quarter and lower in comparison to 3.6 percent achieved in the 2Q and 3.4 percent in 1Q 2018. The 9-month growth was 3.3 percent.

    The Gross Domestic Product at constant (2010) prices for the third quarter of 2018 recorded as Rs. 2.43 trillion and GDP reported for third quarter of 2017 was Rs. 2.362 trillion.The four major components of the economy - Agriculture, Industry, Services and Taxes less subsidies on products - have contributed their shares to the GDP at current price by 7.5 percent, 27.4 percent, 56.8 percent and 8.3 percent respectively.

    In this quarter, Agricultural activities expanded favorably by 3.3 percent compared to the contraction of 3.0 percent reported in the third quarter of 2017.The Industrial activities recorded positive growth rate of 1.9 percent and Service activities expanded further by 3.9 percent during the third quarter of 2018, compared to the third quarter of 2017.

    The Department of Census and Statistics said among the sub activities of Agriculture, the 'Growing of Rice' which recorded 32.8 percent of negative growth rate in the third quarter of year 2017, has reported striking positive growth rate of 46.9 percent during this quarter.

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