The economy grew 8.3 percent in 2011 to Rs. 6,542.7 billion with the per capita income increasing by 15.5 percent to Rs. 313,511, provisional data released by the Department of Census and Statistics showed, with industry sector contributing more at the expense of the agriculture sector with the services sector relatively static.
The annual average change in price was 7.8 percent in 2011, the highest for the last three years after dipping to 5.9 percent in 2009 from a high of 16.3 percent in 2008.
The department also showed that the rupee had appreciated 2.2 percent during the year.
In dollar terms, the per capita income for 2011 was US$ 2,836, up 18.2 percent from US$ 2,400 in 2010.
The agriculture, forestry and fisheries sector had grown 1.5 percent during the year, accounting for 11.2 percent of GDP, steadily declining since contributing 12.1 percent to GDP in 2008, peaking at 14.3 percent in 2002.
The tea industry fell 0.9 percent while the rubber and coconut industries grew 1.8 and 3 percent respectively. The minor export crops sector declined by 19 percent. Paddy production declined 8.4 percent during the year. Inland fisheries grew by 15.9 percent and marine fisheries recorded a 15.4 percent growth rate.
The industry sector reported a 10.3 percent growth rate, accounting for 29.3 percent of GDP, the highest contribution for the past ten years.
The manufacturing sector grew 7.9 percent. The tea, rubber and coconut processing sector grew by 0.9 percent. Food, beverages and tobacco grew by 7.1 percent and textiles, apparels and leather grew by 10.8 percent. Chemicals, petroleum, coal, rubber and plastic subcategory grew by 9.3 percent.
Electricity, gas and water recorded growth rates of 9.6, 5.7 and 6.1 percent respectively.
The services sector grew by 8.6 percent in 2011 and contributed 59.5 percent to GDP. The sectors contribution to the overall economy has changed little over the years.
Domestic trade grew 7.5 percent, import trade 14.3 percent and export trade 10.1 percent.
The hotels and restaurants sector grew 26.4 percent. Transport and communication grew 11.3 percent.
Cargo handling and civil aviation had grown by 7.2 percent.
Banking, insurance and real estate grew 7.9 percent.
Private sector services grew by 7.2 percent with government sector services far behind at 1.2 percent.
The Central Bank has forecast a growth rate of 8 percent for 2012, but has since downgraded the growth rate to 7.2 percent.
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