Sri Lanka’s 1Q GDP growth revised up to 3.5-pct
ECONOMYNEXT – Sri Lanka’s gross domestic product grew 3.5 percent in the first quarter of 2018 from a year earlier, faster than the 3.2 percent first estimated, the state statistics office said in September statement.
Sri Lanka now releases GDP on pre-announced dates and revises national income numbers in subsequent quarters as more data becomes available, according to international practice.
The agriculture sector had grown 5.3 percent, faster than the 4.8 percent first estimated.
Industry had grown 1.1 percent, faster than the 1.0 percent first estimated.
Services had grown 4.8 percent, faster than the 4.4 percent first estimated.
Overall inflation measured by the implicit GDP deflator was also up to 5.22 percent from 5.15 percent estimated earlier.
Inflation measured by the Colombo Consumer Price Index was up 4.72 percent during the period.
The implicit GDP deflator is the difference between nominal (current rupee value) of economic output and the real output where price effects are taken out.
In market prices the nominal GDP grew 8.9 percent to 3.551 trillion rupees.
Sri Lanka’s GDP during the first half of 2018 grew 3.6 percent from a year earlier. (Colombo/Sept19/2018)