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Economic and Social Statistics of Sri Lanka - 2016

The 'Economic and Social Statistics of Sri Lanka – 2016' an annual publication of the Central Bank of Sri Lanka, is now available for public access. The publication contains economic and social indicators of Sri Lanka in the areas of Gross Domestic Product (GDP), agriculture, industry, external trade and finance, government finance, banking and financial institutions, money and capital markets, prices and wages, labour force, transportation, education, health, telecommunication services, population, climate and selected information on economic and social indicators of other countries. In addition, information on living conditions, poverty and household characteristics in Sri Lanka from Household Income and Expenditure Survey (HIES) conducted by the Department of Census and Statistics also available in the publication. Further, it includes disaggregated information at the provincial level on key economic variables.

External Sector Performance - May 2016

Sri Lanka’s external sector showed a mixed performance during May 2016 with a widening of the trade deficit, continued growth in tourist earnings and an increase in workers’ remittances. The trade deficit widened on account of the decline in export earnings, mainly due to the subdued performance in exports of tea, rubber products and textiles and garments, amidst the marginal growth in import expenditure on a year-on-year basis. However, the widening of the trade deficit on a cumulative basis as of end May 2016 was offset to some extent by continuous inflows on account of tourism, increased workers’ remittances and moderate inflows to the financial account during the period.

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Provincial Gross Domestic Product – 2015

Provincial Gross Domestic Product (PGDP) for 2015 has been computed by the Statistics Department of the Central Bank of Sri Lanka (CBSL), based on the disaggregation of the rebased series of National Accounts estimates (2010 constant prices) by the Department of Census and Statistics (DCS)1. 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 4.8 per cent in 2015, while the nominal GDP recorded a growth of 7.0 per cent to Rs. 11,183 billion. The disaggregation of nominal GDP across provinces is given in Table 1.

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Appoinment of Mr Nihal Fonseka as a Member of the Monetary Board

Mr Anthony Nihal Fonseka has been appointed by His Excellency the President as a Member of the Monetary Board of the Central Bank of Sri Lanka with effect from July 27, 2016 in terms of Section 8(2)(c) of the Monetary Law Act.

Central Bank Releases Summary Trading Statistics on Government Securities Secondary Market Information for the First Time

As a further policy measure to develop the government securities market, the Central Bank from today has commenced releasing summary trading statistics on actual trading of government securities in the secondary market. From August 1, 2016, all primary dealers have been required to undertake inter-primary dealer trades in the trading platform arranged by the Central Bank through the Bloomberg which is a major international financial trading and information electronic platform. Further, all primary dealers will report all outright sales of government securities of value in excess of Rs. 50 mn to investors to this platform within 30 minutes of each transaction. Accordingly, the Central Bank will monitor these transactions on an on-going basis and summary of trading information consisting of yield rates and volume by each series of securities traded will be published in the Central Bank website in the format as annexed below. The Central Bank plans to release such information twice a day, at noon and close of the day, in due course when the reporting system is fully operative.

External Sector Performance - April 2016

Sri Lanka’s external sector recorded a modest performance in April 2016. The trade deficit narrowed on account of the higher decline in import expenditure mainly due to the drop in the importation of vehicles and rice, compared to the decline in earnings from exports during April 2016. Although workers’ remittances were marginally lower in April, earnings from tourism increased strengthening the current account of the Balance of Payments (BOP) while inflows to the financial account continued to moderate.

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