GDP and other macroeconomic indicators have been estimated by the Census and Statistics Department released the 2016 fourth quarter and year 2016.
Exceptionally adverse weather conditions throughout the year 2016. The flood situation in the second quarter of this year has led to the decline of the agricultural sector niyagayat the other quarters.
Estimates have been the economic growth rate of 4.4 per cent for the year 2016, as revealed in the Department of Census and Statistics. 5.3 per cent, so the growth rate was estimated for the fourth quarter 2016.
Prices for the year 2016 (2010) is estimated at 9,012,026 million Gross domestic product prices. The value was Rs 8,633,890 million in 2015.
Contribution given by the agricultural gross domestic product in 2016 to 7.5 per cent. Provided for a contribution of 57.0 percent of gross domestic product and 27.1 percent respectively of the manufacturing and service sectors, and has contributed 8.4 percent to the tax rate and net GDP on goods.
Industrial activities have recorded a significant growth of 6.7 percent in 2016. The same services 4.2 percent growth recorded in the report, but agriculture has a negative growth rate of 4.2 percent.
Developments in the agriculture sector
Agriculture Reports on negative growth of 4.2 percent in the year 2016. In the "crop" of recorded growth of -31.0 percent. Moreover, the "tea", "rubber", "excluding other crop cultivation" of -11.2 per cent, respectively, -10.7 percent and -10.5 million as the recession has been reported. In addition, "fruit cultivation" of -3.7 percent, "vegetable cultivation" of -2.1 percent, including Coconut "oily cultivation of fruit crops" have been reported in the recession slightly -0.6 percent. Favorable weather conditions during the year as a whole had not used for agriculture, but some of the most agricultural activities have positive growth rates were recorded for the year 2016. The "inland fishing" by 9.9 percent, "spice cultivation" by 6.4 percent, "Animal" has been a positive growth by 6.3 percent.
Developments in the industrial sector
Economic activities have come to acquire a significant growth of 6.7 percent in industrial sector in 2016. The economy is in a high significance "construction industry" has increased significantly by 14.9 percent. The "mining and quarrying industry" has recorded growth of 14.4 percent.
Industry sector output accounted for 1.7 per cent growth recorded in 2016. In the "basic structure of metal and metal products", "production of rubber and plastic goods", "machinery and equipment production" of 28.7 per cent, respectively, 17.9 percent and 14.1 percent of the high growth rate has been recorded. Among the main industrial "food, beverages and tobacco products" and "textile, garment, leather and related products," the industry and -2.5 percent respectively -0.2 per cent as the recession has been reported.
Moreover, "Electricity, gas, steam and air conditioning supply" has reported satisfactory growth rate of 8.4 percent.
Services sector growth
Gross domestic product increased with the contribution (57.0 percent) in the Service Department of Economic Affairs has reported a growth rate of 4.2 percent in 2016. Has been given a higher contribution to the overall development of the service sector, "Finance and Financial Intermediary services", "Insurance", "telecommunications activities", "radio, TV broadcasting and the production", "education services" and "computer programs and software production and IT activities, "respectively, were 12.4 percent, 8.5 percent, 8.3 percent, 7.7 percent, 7.5 percent and 7.1 percent higher growth rate has been recorded.
