Business Times

Western Province share of national GDP falling: CB

The GDP last year at current prices grew by 15.9 % and reached Rs. 5,602 billion with a per capita income of Rs. 271,259 equivalent to US$ 2,399, according to the Provincial Gross Domestic Product (PGDP) for 2010 compiled by the Statistics Department of Central Bank of Sri Lanka (CBSL).
This is based 'on the disaggregation of the Gross Domestic Product (GDP) estimated by the Department of Census and Statistics (DCS)', the Central Bank (CB) said in a statement.

It said the Western Province, made the highest contribution to GDP in 2010. However its share of GDP reduced to 45.1 % from 45.8 % in 2009. As in 2009, the Southern province provided the second highest contribution which was 10.7 %, an increase compared to 10.5 % in 2009. The Central Province provided the third highest contribution maintaining its relative position compared to 2009 and managing to increase its GDP contribution to 10 % in 2010. However, the contribution of the North Western Province declined to 9.4 % in 2010 from 9.6 % in 2009. The contributions to GDP from Northern, Eastern, North Central and Sabaragamuwa provinces increased in 2010 while that of the Uva province was unchanged.

The CB statement said in line with improvements in country’s economic environment, all the provinces have reported a double digit growth rate in 2010. Reflecting the rapid expansion in income generating activities in the Northern province, GDP growth rate was highest in the province at 22.9 %. It’s contribution to GDP also increased from 3.2 % in 2009 to 3.4 % in 2010. The North Central province has reported a 20.3 % GDP growth rate which is the second highest among all the provinces.

abaragamuwa and Eastern provinces also reported high GDP growth rates of 19.1 and 18.7 %, respectively. "As in the past, the Western Province contributed significantly to GDP in the country, as most of the economic activities that relate to sea port, air ports, banking and financial institutions and business centers are still centralized in the province. Even though the Western province accounts for the highest share of GDP by far, the slight reduction in its relative share in 2010 indicates a further reduction in the disparity among provinces.

The per capita income in the Western province which stood at US$ 3,808 (Rs. 430,488) was 1.6 times the national per capita income in 2010. Per capita income in all other provinces continued to fall below the national per capita income. Also in all provinces, this ratio was unchanged except in the Sabaragamuwa Province where the relevant ratio increased.

It said there are considerable variations in the structure of GDP across the provinces. Agriculture accounted for just 3 % of GDP in the West in 2010, whereas it accounted for over 16 % of GDP in the other provinces. In the Uva Province agriculture accounted for more than 30 % of GDP. In all provinces industry accounted for between 14.2 % and 34.8 % of GDP in 2010. The services sector was the most dominant single sector accounting for between 48.3 % and 69.8 % of the GDP in the different provinces.

The contribution of the agriculture sector to GDP of the Western, Uva and Sabaragamuwa provinces increased in 2010 compared to 2009, while that of the other provinces decreased. The contribution from the industry sector declined in the Western, Eastern, Uva and Sabragamuwa provinces in 2010 but expanded in the other provinces.

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