Download Compilation of National Income in Sri Lanka

CENTRAL BANK OF SRI LANKA
Communications Department
30, Janadhipathi Mawatha, Colombo 1.
Tel : 2477424, 2477639,2477420
Fax : 2346257, 2477739
E-mail:[email protected]; [email protected]
PRESS RELEASE
Date: 25-05-2007
Issued By: Statistics Department
Compilation of National Income in Sri Lanka
Sri Lanka’s National Income is compiled by the Central Bank of Sri Lanka (CBSL) based
on the guide for the compilation of the National Income of the United Nations’ System of
National Accounts, which is followed by all countries in the world.
There are three major approaches of compilation of national income accounts i.e.
production approach, expenditure approach and factor income approach. The CBSL has
been consistently compiling the national accounts using the first two approaches.
In the production approach, data in Agriculture and Industry are compiled by using
information obtained by Statistical Officers stationed in all the districts of Sri Lanka by the
Department of Census and Statistics. In addition, data independently collected by the
CBSL through a network of data collectors is used to verify the accuracy of data compiled
by the Department of Census and Statistics. Production data are further verified by
comparing the usage of inputs such as fertilizer, utilities such as electricity and other raw
material. In the Services Sector, production data is compiled using the information that is
mainly available with Head Offices of service providers. Many of these Head Offices are
located in Colombo and they provide an accurate account of services provided to the
entire country.
In the expenditure approach, all major variables, i.e. consumption, investment,
government expenditure, exports and imports are compiled for the entire country. Data
sources are the various surveys conducted by the CBSL, and data available with both
private and public sector institutions.
Recent data on National Income showed that the Sri Lankan economy grew by 7.4%.
Such growth is the aggregate growth of the economy encompassing all provinces. The
Province-wise data available for 2005 shows that the Western Province accounted for
51% of GDP whereas the GDP contribution of other Provinces are shown in the following
table.
Distribution of Gross Domestic Product at Current Factor among Provinces
Cost Prices 2005
Province
Per Cent (%)
Western
50.8
North Western
8.9
Southern
8.9
Sabaragamuwa
6.3
Central
8.4
Eastern
4.8
Uva
4.4
North Central
4.3
Northern
3.1
Total
100.0