Sri Lanka cement use flat in 2018, but pick up in September

ECONOMYNEXT – Sri Lanka’s cement production was down 3.2 percent to 2.086 million tonnes in the first nine months of the year and imports were also flat, but there has been a pick-up in September, official data shows.

Total imports and production was flat at 6.204 million tonnes in the first nine months of the year, against 6.229 million tonnes a year earlier, central bank data showed.

In September domestic production picked up 11.4 percent to 262,000 metric tonnes.

Imports also picked up 18 percent to 909,000 metric tonnes during the month. Imports however may vary over months, as stocks change.

Sri Lanka’s statistics office said the construction sector grew 2.5 percent in real terms during the third quarter of 2018, compared to a year earlier. Nominal growth was 7.5 percent.

The central bank stopped a potential bubble from forming in the real estate sector in 2017 which contributed to the low growth. (Colombo/Jan08/2018)