Sri Lankan economy expands 7.9% in Q1

[Skyline]

The Sri Lankan economy expanded at a steady pace in the first quarter, data released by the Department of Census and Statistics showed Monday.

Gross domestic product (GDP), at constant prices, increased 7.9 percent on an annual basis in the first quarter. In the first quarter of 2011, the economy expanded 8 percent year-on-year.

Sector-wise, the agriculture sector grew 11.5 percent annually during the quarter. The industrial sector and the services sector expanded by 10.8 percent and 5.8 percent respectively during the three-month period.

At the same time, the country’s gross national product (GNP), which is the total value of all final goods and services produced within a nation in a particular year, grew 8.2 percent from last year in the first quarter.

In the first quarter of last year, GNP gained 8.4 percent, data showed.

Sri Lankan economy expands 7.9% in Q1

 

[Roll in deep]

Well done Sri Lankan.

 

[Baby Leone]

well done....Sri Lanka is growing fast after defeating foreign support Tamil terrorists

we Pakistanis are always with lankans in development....
hope to see the same growth in Pakistan again...

 

[Skyline]

Around CMB

 

[twocents]

Congratualtions to Sri Lanka. It's a remarkable achievement, considering that much of the rest of the world is going through a tough time.

 

[KRAIT]

Developing Srilanka is good for India as it provides another great market to Indian companies. Indian government should take necessary steps to boost trade between these two nations.

India-Sri Lanka bilateral trade has increased by over 65% last year, close to U.S. $5 billion, Indian High Commissioner to Sri Lanka Ashok K. Kantha, has said.
The Hindu : Business / Industry : 50 Indian companies participate in realty conference in Sri Lanka


Indian companies operating in Sri Lanka included John Keells Institute of Information Technology, CEAT-Kelani Associated Holdings, Mackwood Infotec, GTB Colombo, Ceylon Ambuja Cement, Taj Lanka Hotels, Bensiri Rubber Products. Asian Paints & Ceylon Glass Company.

This link provides entire details of Sndian companies working in Srilanka
Sri Lanka Guardian: Dangers of India's business in Sri Lanka

So, as i said its good for both the countries, but there are fears because of increase in indian companies' presence which is mentioned in above link

 

[PointBlank]

congrats to sri lanka

Developing Srilanka is good for India as it provides another great market to Indian companies. Indian government should take necessary steps to boost trade between these two nations.

Tata is already selling Nano there.....
Tata Motors launches Nano in Sri Lanka at Rs 3.80 lakh - Economic Times

arre yaar dont show off our cheap products , some1 might make more cheaper copies of it and sell it to our customers

 

[KRAIT]

congrats to sri lanka

arre yaar dont show off our cheap products , some1 might make more cheaper copies of it and sell it to our customers

I have edited the post....go through it and visit last link, you will be surprised how much we have penetrated the market.

 

[PointBlank]

why is nano at 3.80 lakh thre? i thought it was under 1.8 lakh, or sri lanka's currency is weaker thn indian rupee?

 

[Skyline]

TATA nano car is around LKR 14.5 lakhs
Maruti 800cc LKR 17.8 lakhs
Alto LKR 21.8 lakhs

Toyota Premio LKR 75 lakhs
Toyota Allion LKR 85 lakhs

*

Sri Lankan Currency = Sri Lankan Rupees = LKR

1 Indian rupee = 2.37167086 Sri Lankan rupees


-------------

Sri Lankan Car price = Car price + 300% tax + other taxes

 

[Skyline]

Ops! TATA nano price have gone up again.


The DIMO announced its New Prices of its TATA Nano Range as Rs. 1,460,000.00 to 1,560,000.00 With VAT. The Prices are Increase Due to Import tax Increments from 1st April 2012.

The New TATA Nano Prices in Srilanka

Brand
TATA Nano CX Rs. 1,460,000.00 with VAT
TATA Nano LX Rs. 1,560,000.00 with VAT

 

[harpoon]

Sri Lankan Car price = Car price + 300% tax + other taxes

That would have been okay if SL wants to protect their car industry..but as it seems SL has none other than some assembling factories. So this tax rate is so ridiculous.

 

[Skyline]

That would have been okay if SL wants to protect their car industry..but as it seems SL has none other than some assembling factories. So this tax rate is so ridiculous.

Yep, Agree. Last year they reduced the tax to 150% and vehicle registrations went high 248% compared to 2010. so they increased the tax to normal tax range again which is 300%.
Anyway every 1 out of 5 has a vehicle in Sri Lanka.

 

[harpoon]

Yep, Agree. Last year they reduced the tax to 150% and vehicle registrations went high 248% compared to 2010. so they increased the tax to normal tax range again which is 300%.
Anyway every 1 out of 5 has a vehicle in Sri Lanka.

May be true..but for the amount they are spending, they are not getting a good deal. They are being ripped off officially.

 

[Skyline]

May be true..but for the amount they are spending, they are not getting a good deal. They are being ripped off officially.

yep. May be they will reduce again after 2 years...