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SL records strong post-war growth

Sri Lanka's economy expanded 7.1 per cent during the first quarter of this year, the statistics office said on Friday, as the island picks itself up after a long civil war.

Updated on: Jun 25, 2010 05:12 PM IST
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Sri Lanka's economy expanded 7.1 per cent during the first quarter of this year, the statistics office said on Friday, as the island picks itself up after a long civil war.

HT Image
HT Image

The growth for the January-March period, up from 1.6 per cent at the same point last year, was boosted by expansion in farm produce and services.

"This promising growth was mainly backed by prevailing peace across the country and also easing of the global economic recession to a certain extent," the department said in a statement.

The economy has continued to benefit from stability after the 37-year conflict against separatist Tamils ended in May last year.

Agriculture, which includes rice, tea, rubber and fishing, expanded 9.0 per cent, compared with 3.0 per cent a year earlier, lifted by a 47.2 per cent growth in tea production.

Makers of Sri Lanka's "Pure Ceylon Tea," the island's chief cash crop, enjoyed good weather and increased global demand.

Some 100,000 people perished during the conflict, according to UN estimates.

 
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Get the latest headlines from US news and global updates from Pakistan, Nepal, UK, Bangladesh, Russia and US Iran war Live, get all the latest headlines in one place on Hindustan Times.
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