Mar 31, 2011 (LBO) - Sri Lanka's economy grew 8.6 percent in the fourth quarter of 2010, up from 6.1 percent a year earlier and also higher than the 8.0 percent estimated for the third quarter, the government's statistics office said.
The office said the economy grew 8.0 percent during the full year 2010.
In the fourth quarter the gross domestic product deflator, a broad measure of inflation rose 7.8 percent in the quarter, from a year earlier.
Agriculture
Agriculture grew 6.3 percent from 5.5 percent a year earlier. Tea had fallen 1.0 percent withy low country output falling. Value addition in rubber has grown 15.1 percent with strong prices helping.
Coconut fell 13.3 percent with low rainfall and outbreak of diseases. Paddy sector grew 31.8 percent. Gross extent sown increased 21.4 percent and harvested increased 23.5 percent in the 'Yala' minor cultivation season.
Livestock had grown 3.7 percent helped by the end of the war in east and border areas. Fishing had grown 12.1 percent with inland fishing up 13.5 percent and marine fishing up 11.8 percent.
Industry
Value added in industry grew 8.9 percent up from 7.3 percent a year earlier. The statistics office said manufacturing grew 8.2 percent and mining and quarrying 15.8 percent.
Factory industry had grown 8.8 percent helped by chemicals, petroleum, rubber and plastic.
Electricity, gas and water grew 8.3 percent, up from 5.4 percent a year earlier. Construction grew 8.0 percent.
Services
Services, which is the largest part of the economy, grew 8.8 percent, up from 5.6 percent a year earlier.
Hotels and restaurants grew 41 percent, transport and telecommunications 11.9 percent, banking, insurance and real estate 7.9 percent and wholesale and retail trade by 8.4 percent.
Export trade sector grew 12 percent and the import trade grew 8.3 percent.
source - www.lbo.lk
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