National Income of Sri Lanka

Sri Lankan economy recorded a positive growth rate of 3.5 percent for the year 2009.This economic performance has to be considered as a very satisfactory achievement considering the global economic recession. The major division of economic activities, namely, Agriculture, Industry and Services registered positive growth rates of 3.2 percent, 4.2 percent and 3.3 percent respectively. The percentage share of the three major sectors, the agriculture, industry and services to the total National Income more or less remained unchanged being 12.0 percent, 28.6 percent and 59.3 per cent. 

 

Overall agriculture sector grew by 3.2 percent in 2009. The growth achieved is remarkable as it achieved amidst decrease of earnings from agricultural exports and prevailed drought weather conditions. 

 

Tea production declined in the first 3 quarters of 2009, due to the global economic crisis, but in the fourth quarter it showed a remarkable increase of 18.3 percent. 

 

The value added for the rubber production increased by 7.9 percent in 2009. Although the growth of first, second and the third quarter registered a slight decline the fourth quarter showed a significant growth of 22.3 percent. 

 

Industrial Sector
The real terms value added of the Industry sector grew by 4.2 percent in 2009 compared with a 5.9 percent growth in the previous year. The manufacturing sector which contributes 60.9 percent of the Industry sector grew by 3.3 percent in the year 2009. Electricity, Gas & Water increased by 3.7 percent and Construction industry indicated 5.6 percent growth rate for year 2009. 

This sector grew by 3.3 percent in 2009. 

 

Wholesale and Retail trade sector contracted by 0.3 percent in the year 2009. This is mainly due to contraction of Import trade and Export trade sub sectors by 6.6 percent and 5.2 percent respectively. 

Hotels and Restaurants sector recorded a 13.3 percent relatively high growth in 2009 as against the negative growth rate of 5.0 percent for the previous year. 

 

Transport and Communication sector indicated 6.6 percent growth in 2009.Passenger and goods transportation, cargo handling and post and telecommunication are the main sub sectors which contributed to this growth. 

 

This sector expanded by 5.7 percent over in 2009. Banks maintained their interest income, non interest income and expenses so as to increase their profits with the dawn of the stable environment of the financial market