Sri Lanka’s industrial production up by 1.2-pct in Dec 2018

Feb 13, 2019 (LBO) -  The volume of industrial production in Sri Lanka has increased by 1.2 percent in the month of December, 2018 compared to the same period in 2017. Among the manufacturing industries; volume of products of ‘wood and products of wood and cork except furniture’(27.7 percent), ‘Beverages’ (14.0 percent) and ‘Manufacture of fabricated metal products’ (10.1 percent) have shown remarkable increases meanwhile ‘Other Manufacturing’ (32.
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3 percent) (which includes manufacturing motor vehicles, trailers and semi–trailers, other transport equipment, jewellery), has reported decrease during this period. The industrial production of the manufacturing sector for the fourth quarter of 2018 has increased by 0.9 percent compared to the same quarter in 2017. Among the manufacturing industries; volume of products of ‘Beverages’ (18.4 percent), has shown a remarkable increase in production during the 4th Quarter of 2018, compared to the Quarter of 2017 and products of ‘Manufacture of paper and paper products’ (21.3 percent), reported a decrease during this period. The IIP is a key indicator of economic performance in most countries. Index numbers summarize past developments, facilitate forecasting of future trends and assist with evidence based policy decisions. In addition, index numbers facilitate International comparisons.