Sri Lanka’s industrial sector records growth in February 2019 from a year earlier
The industrial sector of Sri Lanka has recorded a 0.6 percent growth in February 2019 from a year earlier, according to Sri Lanka’s Census and Statistics Department.
The statistics office has reportedly noted a recovery in coke and refined petroleum production.
The Index of Industrial Production compiled by the Department of Census and Statistics has reportedly recorded 104.2 points in February, up from 103.6 points a year earlier.
A value over 100 denotes growth compared to the index base year of 2015, the Department has stated.
The index, however, has recorded a fall of 4.6 percent from a month earlier, mirroring a long-running trend, due to the shorter month, and a major national holiday in February.
Non-metallic mineral products manufacturing have grown 10.2 percent to 114 points while coke and refined petroleum products manufacturing has grown 87.1 percent to 106 points, pushing up the index in February.
Rubber and plastic product manufacturing, the fifth largest activity accounting for 5.7 percent of the sector, has increased 12.2 percent to 121.2 points.
OSL take:
The growth shown in Sri Lanka’s industrial sector indicates the developments in the country’s industries. Foreign businesses/investors could explore business/investment opportunities in Sri Lanka’s industrial sector. Foreign companies could also explore the option of forming partnerships or joint ventures with local companies engaged in industrial manufacturing.
| Article Code : | VBS/AT/17042019/Z_2 |