The Sri Lanka economy expanded by 4.8% in the first quarter this year, latest data by the Census and Statistics Department showed. The manufacturing sector topped the list of contributors, adding 1.67 percentage points to overall growth, followed by the construction sector (+0.69%), financial Services sector (+0.50%), and accommodation (+0.35%). While the GDP growth is marginally down from 5.1% growth reported in the corresponding quarter of 2024, the data by the statistics department data shows continued resilience amid global economic headwinds. The report attributes the growth primarily to strong performances in the Industry and Services sectors. However, the Agriculture sector contracted by 0.7%, reversing its modest 0.9% growth from the corresponding period last year. The Services sector showed a slight improvement, rising from 2.5% to 2.8%, while Industry had a marginal dip from 11.2% to 9.7%. A sectoral breakdown showing Services as the dominant contributor to GDP, followed by Industry, Agriculture, and Taxes less subsidies.
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