ECONOMYNEXT – Sri Lanka’s industrial production increased 0.4 percent in August 2018 from a year earlier, driven by apparel manufacturing, the state statistics office said.
The Census and Statistics Department said the Index of Industrial Production increased to 109.4 points in August from 109 points a year earlier.
A value over 100 shows growth in production compared to the index base year of 2015.
Food production, which accounts for 35.2 percent of industrial activity, fell 0.5 percent in August from a year earlier to 109.1 points.
Apparel production, grew 5.1 percent to 115.4 points from a year earlier. Apparel makes up 19.8 percent to manufacturing in Sri Lanka.
Apparel exports were up 7.8 percent in August from a year earlier according to the Joint Apparel Association Forum.
Non-metallic minerals, the third biggest contributor to Sri Lankan industrial sector with a 7.8 percent share fell 2.0 percent in August from a year earlier, reaching 107.1 points.
Coke and refined petroleum production, the fourth biggest manufacturing industry increased 9.3 percent to 116.0 points from a year earlier.
The biggest gains were seen in beverage manufacturing, up 17.5 percent to 102.6 from a year earlier, and textiles which grew 10.5 percent to 116.1 points.
The weight given to these two sectors were 3.8 percent and 3.3 percent, respectively.
Electrical equipment saw the biggest fall, at 28.4 percent to 76.6 points from a year earlier, followed by paper and paper products (down 25.5 percent to 81.4 points), and tobacco (down 24.6 percent to 92.5 points).
A month by month comparison of the index showed a sharp increase of 3.3 percent from 105.9 points in July, similar to the trend from the previous year. (Colombo, October 17, 2018)