The Central Statistics Office (CSO) released official figures on quarterly national accounts on Monday for the first quarter of 2008 to the third quarter of 2011. It was found that in 2010, gross domestic product (GDP) at current basic prices stood at Rs 60,366 million in the first quarter, increased to Rs 63,309 million in [...]
The Central Statistics Office (CSO) released official figures on quarterly national accounts on Monday for the first quarter of 2008 to the third quarter of 2011.
It was found that in 2010, gross domestic product (GDP) at current basic prices stood at Rs 60,366 million in the first quarter, increased to Rs 63,309 million in the second quarter and to Rs 66,400 million in the third to reach its peak at Rs 75,175 million in the fourth.
The GDP growth rate for the third quarter of 2011 over the corresponding quarter of 2010 was estimated at 3.7 per cent.
In the first quarter of 2011, GDP at basic prices declined to Rs 66,400 million in the first quarter of 2011, increased to Rs 68,334 million and Rs 71,103 in the second and third quarter respectively.
The quarterly data for the years 2008 to 2011 indicated that around 23 per cent of the annual GDP was produced in the first quarters, 24 per cent in the second quarters, 25 per cent in the third quarters and 28 per cent in the fourth quarters.
The survey indicates that GDP growth for the second quarter of 2011 over the corresponding quarter of 2010 has been revised upward to 4.4 per cent from 3.9 per cent as recorded in September 2011.
This upward revision is mostly explained by higher growth in ‘agriculture, hunting, forestry’ by 6.1 per cent.
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