Central Bank releases Provincial GDP figures for 2014

29 October 2015 06:30 pm - 0 - {{hitsCtrl.values.hits}}

A A A

The Provincial Gross Domestic Product (PGDP) for 2014 has been computed by the Statistics Department of Central Bank of Sri Lanka (CBSL), based on the desegregation of the rebased (2010 constant prices) series of National Accounts estimates by the Department of Census and Statistics (DCS).

In the estimation of PGDP, the value of each line item in GDP (base year 2010) is apportioned using relevant indicators at provincial level.

The Sri Lankan economy reached an annual real GDP growth of 4.5 percent in 2014, while the nominal GDP recorded a growth of 7.3 percent to Rs. 10,292 billion. The desegregation of nominal GDP across provinces is given in Table 1.

Provincial GDP Shares
Continuing the trend observed in the recent past, the share of the Western province in the GDP moderated further in 2014 reducing disparities between provinces.

However, the Western province remained the frontrunner providing the highest contribution of 42.0 percent to GDP in 2014, as in previous years.

The Southern province accounted for the second highest contribution of 10.8 percent in 2014, compared to 10.4 percent in 2013. The third highest contribution of 10.7 percent was recorded in North Western province in 2014 and the contribution from Central province was 10.4 per cent.

The contributions of the Sabaragamuwa and Eastern provinces decreased by 0.1 percent each to 6.7 per cent and 5.8 percent, respectively, in 2014.

Compared to 2013, North Central provincial GDP contribution increased to 5.1 per cent in 2014 from 5.0 per cent in 2013. Likewise, Uva province contribution also increased from 4.9 per cent in 2013 to 5.0 per cent in 2014. The Northern province contributions in 2014 was 3.6 per cent compared to 3.5 per cent in 2013.

Provincial GDP growth rates
Reflecting the overall developments taking place in the country’s economic environment, all provinces recorded healthy nominal growth rates in their PGDP in 2014, ranging in between 5.9 percent to 11.1 percent.

The Southern province recorded the highest growth rate of 11.1 per cent followed by North Western province which recorded a 9.3 per cent of nominal growth rate in 2014. Further, in 2014, the North Central, Uva and Northern provinces grew by 8.7, 8.5 and 8.3 per cent, respectively. The Western province recorded a nominal growth rate of 5.9 per cent in 2014.

Sectoral contributions to PGDP
The sectoral contribution to PGDP of the provinces is given in Table 2.

Considerable variations in the structure of the PGDP can be observed across the provinces in 2014.

The agriculture sector accounted for 2.1 percent of the GDP in the Western province in 2014, whereas it accounted in the range of 11.3 to 17.2 percent of the GDP in the other provinces.

The contribution of the Agriculture sector to the PGDP increased in Central, Southern and North Central provinces in 2014, while the same decreased in all the other provinces. The Industry sector contribution to PGDP decreased or remained unchanged in 2014 in all provinces except Northern and North Western provinces.

In 2014, the largest contribution to PGDP from industry sector was observed in the Western province and the lowest from the Northern province. The services sector was the most dominant sector accounting for between 55.2 percent and 67.0 percent of the PGDP in different provinces in 2014. The contribution from the services sector decreased marginally in the Southern and Northern provinces, but increased in all other provinces during 2014.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Central Bank releases Provincial GDP figures for 2014

Comments - 0

Add comment

RECOMMENDED

‘Spike in blast fishing’ poses renewed threats to Sri Lanka’s marine ecosystems

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Most Viewed in News

SL on alert on possible genocide allegations by Canada

Street food vendor arrested for verbally harassing foreigner

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

Sri Lankan among NASA’s new crew for next simulated Mars journey

Former MP Palitha Thewarapperuma dies from electrocution

MIRROR CRICKET

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

TODAY'S HEADLINES

SL took minimal steps to punish officials who committed human rights abuses: US report

Iranian President’s visit Sri Lanka withstands western pressure

25 tons of solid waste disposed along Sri Pada route

Temperature rises to ‘Caution’ level

Sri Lanka secures third spot in South Asian Kurash Championship 2024

Athapaththu back atop ICC Women’s ODI Batting Rankings

Army forms committee to probe Diyatalawa Fox Hill Supercross accident

Indian cricket manager indicted for Legend Cricket League match-fixing allegations