Sri Lanka has recorded a 5.5 percent economic growth for the First Quarter of 2016. According to the data issued by the Department of Census and Statistics it is a positive growth rate when compared to the 4.4 percent growth achieved in the First Quarter in 2015. During the First Quarter of the year 2016 the Industrial, Services, and Agricultural sectors have recorded an increase of 8.3 percent, 4.9 percent, and 1.9 percent respectively.
Especially in this Quarter the contribution of the Industrial activities to the GDP has increased up to 31.6 percent recording a striking growth. Construction industry, electricity, rubber and plastic products, manufacture of food, beverages and tobacco and manufacture of textile have shown a considerable growth rates of 12 percent, 10.1 percent, 7.05 percent 1.2 percent and 1.9 percent respectively, during the first quarter of 2016. Meanwhile, the performance of Services sector was underpinned specially by the sub activities of financial services, wholesale and retail trade, and education service which reported significantly higher growth rates of 15.9 percent, 5.7 percent, and 6.7 percent respectively compared to the respective quarter in year 2015.
Among the sub activities of Agriculture, growing of vegetables, growing of coconut and growing of fruits reported a high growth rates of 16.3 percent, 10.0 percent and 5.1 percent respectively during the first quarter of 2016.