SL’s industrial activity expands in 1Q

The Index of Industrial Production (IIP), which measures short-term changes in Sri Lanka’s manufacturing activities, expanded to 105.5 during the first quarter of 2017 (1Q17).
The index value was 104.3 during the corresponding quarter in the previous year, and 104.3 during the fourth quarter of 2016.
A value exceeding 100 denotes a growth in the IIP compared to the base year of 2015.
The largest growth within 1Q17 came during March, when the IIP increased to an all-time high of 109.5 ahead of the April festive season, beating 107.8 recorded during March 2016.
During 1Q17, food products, which comprise over a third of the country’s industrial activities, increased to 104.6 from 101.5 year-on-year (YoY). 
Apparel manufacturing, contributing nearly 20 percent to the country’s total manufacturing, increased to 104.1 from 102.3 YoY.
Non-metallic mineral product manufacturing, making up 7.8 percent of the basket of goods measured by the IIP, increased to 117 from 94.8 YoY.
Coke and refined petroleum product manufacturing, which contributes 7.4 percent to the country’s manufacturing, fell to 86.9 from 113.3 YoY.
Rubber and plastic product manufacturing, taking up 5.7 percent of manufacturing, fell to 104.3 from 104.8 YoY.