Sri Lanka industrial activity grows in October on higher food, apparel production
ECONOMYNEXT- Sri Lanka’s industrial activity expanded 1.1 percent in October 2019 from a year earlier on food and apparel production, while wooden products manufacturing surged ahead of the holiday season, the state statistics office said.
The Index of Industrial Production compiled by the Census and Statistics Department rose to 112.1 points in October from 110.8 points a year earlier.
An index value over 100 shows growth compared to the index base year of 2015.
The index had also grown in October from September’s 107.3 points.
Food production, which makes up just over a third of Sri Lanka’s industrial activity, grew 4 percent to 108.5 points in October from a year earlier.
Apparel, the second largest making up a fifth of the country’s total industrial activity, grew 4.8 percent to 127.9 index points.
Other major industries; non-metallic mineral product manufactuing, coke and refined petroleum production and rubber and plastic production, recorded declines in October.
The highest growth industry was wood and wooden products (except furniture), straw and cork manufacturing, which grew 32.5 percent to 103.9, ahead of the Christmas holiday season.
Paper products too grew fast, up 28 percent to 96.2 points.
Fabricated metal production (except machinery and equipment) saw a fall of 23.2 percent to 107.1 points. (Colombo/Dec13/2019)
Jehan Perera - Executive Director National Peace Council