HCL Technologies will host the ScienIT competition for Sri Lankan students – The Island

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Sri Lanka recorded 1.5% negative economic growth rate for the third quarter of 2021, reflecting the impact of the global coronavirus pandemic, the Department of Census and Statistics (DCS) said last week, publishing the summary indicators of GDP for the quarter from 1 July. to September 30th

During the quarter, the third wave of the Covid-19 pandemic, which began in late April 2021, intensified and peaked in August and the island-wide quarantine curfew imposed since midnight on August 20, 2021 to control the spread of the pandemic. it was extended from time to time for 41 days until October 1, the DCS said.

Although the government allowed agricultural activities, many manufacturing industries, construction and select services to continue even during the quarantine curfew, economic activities were hampered by the pandemic and quarantine curfew.

The Department noted in its report that the gross domestic product at constant prices (2010) fell to 2,497,489 million rupees by the third quarter of 2021 from 2,536,490 million rupees recorded in the third quarter of 2020.

The three main components of the economy, “Agriculture”, “Industry” and “Services”, contributed to the gross domestic product at current prices by 8.7 per cent, 29.9 per cent and 57.4 per cent respectively. percent, while “taxes minus product subsidies” contributed 4.1% in the third quarter of 2021.

In the third quarter of 2021, overall agricultural activities recorded a slight positive growth of 1.7 percent in the third quarter of 2021, compared to the higher growth of 3.1 percent recorded in the same quarter of 2020. positively the fact that the government had allowed agricultural activities to continue throughout the country even under the quarantine curfew.

Overall industrial activities recorded negative growth of 2.1% in the third quarter of 2021. This negative growth is mainly due to the contractions seen in some manufacturing, construction and extractive industries, the DCS said.

The overall service sector collapsed by 1.6% in the third quarter of 2021. This slowdown in the services sector is mainly due to the interruption of the activities of “Transportation of goods and services to passengers” and “Other services to the person “who also contributed (9.5 per cent) to the Gross Domestic Product.

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