Industrial sector boosts GDP growth in 2Q

The second quarter's GDP growth is clearly being powered by the industrial sector. "This underscores the importance of industries in Sri Lanka's GDP growth. Industrial growth which fell below agriculture in 2012 First Quarter compared to 2011 1Q, has now recovered becoming the leading growth driver in the second quarter registering a 19.6 percent rise followed by services (15.1 percent) and agriculture (6.3 percent)," a spokesman for the Ministry of Industries and Commerce said.

He said this confirmed the second quarter GDP summary indicators issued by the Department of Census and Statistics.

The Department of Statistics indicated that the Industrial contribution to GDP stood at Rs 539,804 m in 2Q of 2012. Within the industry sector in 2Q, the mining and quarrying sub sector led with 29.6 percent, followed by the construction sub-sector (28.7 percent), electricity, gas and water (25.4 percent) and the manufacturing sector stood at14.5 percent.