The agriculture sector saw a relatively healthy output level in the first half of 2021 compared to the year-ago level. The official GDP data show the sector rebounding by 6.1% (Q/Q) in 1Q after experiencing a contraction of 6.1% last year.
Key commercial crops, especially tea (47.6%), vegetables (19.7%) and fruits (11.7%) made a noteworthy contribution to the growth in overall sector output. However, marine fishing and aquaculture recorded yet another disappointing quarter by contracting 16% (Q/Q) in 1Q.
Though key commercial crops had a robust first quarter, we expect 2Q sector performance to be more-or-less mixed as the country went into an island-wide lockdown in the face of a rising third wave of Corona infections impeding the entire agricultural value chain. In addition, we believe fisheries subsector output may have plummeted sharply as it was badly affected by the X-Press Pearly disaster.
Meanwhile, the Industrial sector grew by 5.5% in 1Q 2021, recovering from a 7.9% contraction in 1Q 2020. Most subsectors expanded but the recovery was uneven, with a contribution to the output growth mainly coming from the manufacturing of food & beverages (28% of the change in output), textile & apparel (22.7%), and construction sectors (13.7%).
Former Mayor of Colombo Rosy Senanayake is planning to contest for the Colombo Municipal Council…
Sri Lanka has been named one of the countries with the lowest terror threats in…
Sri Lanka Police has launched its first-ever training program aimed at educating officers about the…
Prime Minister Dr. Harini Amarasuriya stated in Parliament today (10) that the government is set…
Minister of Urban Development, Construction and Housing Anura Karunathilaka revealed that a substantial salary increase…
Sri Lanka Railways has introduced additional train journeys for March 2025 to accommodate increased passenger…
View Comments
Sri Lanka has to do take into account the trade gap plus a export led economy is the only way forward