Sri Lanka Industry activity continues growth in July
ECONOMYNEXT- Activity in Sri Lanka’s industry sector grew 2.1 percent in July 2019 from a year earlier, with a growth in manufacture of paper and paper products, the state statistics office said.
The Index of Industrial Production of the Census and Statistics Department grew to 108.4 points in July 2019 from 106.1 points a year earlier.
Industrial activity had also grown 1.1 percent in July from a month earlier.
An index value over 100 means industrial activity grew compared to the base year of 2015.
Food production, which is Sri Lanka’s largest industry comprising of over a third of manufacturing activity, fell by a marginal 1.2 percent in July 2019 to 103.2 points from a year earlier.
Apparel manufacturing, the country’s largest export and making up nearly 20 percent of industry, grew 3.0 percent to 113.3 points.
Non-metal mineral production, comprising of 7.8 percent of industrial activity, grew 13.3 percent to 122.9 points.
Production of coke and refined petroleum, which is just as large, grew 22.3 percent to 126.3 points.
Rubber and plastic product making, the fifth largest industry making up 5.7 percent of the total, fell 14.2 percent to 100.8 points.
The fastest growing industry during the month was paper production, rising 30.8 percent to 107.2 points.
Other manufacturing products meanwhile fell 34.4 percent to 72.4 points.
Apparel, non-metallic mineral and petroleum refining production gave the index positive momentum during the month, while food production, and rubber and plastic production recorded falls. (Colombo/Sep18/2019)