Northern and Eastern Provinces Growing Fast

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Sri Lanka’s war ravaged Northern and Eastern provinces grew fastest in 2013, though starting from a low base, helped by construction but also banking and agriculture, the Central Bank said.
The Northern Province grew 25.9 percent nominally (real gross domestic product plus inflation) with inflation down from 27.9 percent in 2011, followed by the Eastern Province at 25.0 percent, up from 13.5 percent.The two provinces emerged from a 30-year civil war in 2009, and the state has reconstructed the area and the economy is reviving.

The Southern province came third at 21.3 percent, up from 21.3 percent helped by manufacturing, construction and government services.

The average national nominal growth rate was 15.9 percent in 2012 down from 16.8 percent in 2011.

The Western province, which is linked with the rest of the world and has the higher population and generates the most economic output share of 43.4 percent, grew at 13.4 percent.

Its share fell to 43.4 percent from 44.2 percent in 2011.

The GDP share of Northern Province rose to 4.0 percent from 3.7 percent, East to 6.3 percent from 5.8 percent, while that of the North Western province fell to 9.6 percent from 10.0 percent from 2011 to 2012.

 

The share of Central Province was flat at 9.8 percent. The North Central (4.7 percent), UVA 4.5 percent and Sabaragamuwa (6.2 percent) was also flat.(Lanka Business On line)

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