Sunday, 12 January 2020 07:43

Sri Lanka’s Industrial Production increased

Sri Lanka’s Index of Industrial Production (IIP) in November 2019 has increased by 1.3 per cent compared to November 2018, Central Bank announced.

Among the major sub divisions of the manufacturing industries, "chemicals and chemical products" (25.0%) and "Other nonmetallic mineral products” (12.3%) have mainly contributed to this overall increase

The IIP is a composite indicator that measures the changes in the volume of production of a basket of industrial products during a given period with respect to the volume of production in a chosen base period.

Weekly AWPR for the week ending 09th January 2020 increased by 2 bps to 9.76 per cent compared to the previous week.

The reserve money decreased compared to the previous week mainly due to the decrease in currency in circulation and deposits held by the commercial banks with the Central Bank.

The total outstanding market liquidity was a deficit of Rs. 6.236 bn by end of the week, compared to a deficit of Rs. 16.691 bn by the end of last week.

During the year up to 09th January 2020 the Sri Lanka rupee appreciated against the US dollar (0.1 per cent).

Given the cross currency exchange rate movements, the Sri Lanka rupee appreciated against the euro (1.0 per cent), the pound sterling (0.3 per cent), the Japanese yen (0.6 per cent) and the Indian rupee (0.4 per cent) during this period

India, UK, China, Germany and Australia were the top five sources of tourist arrivals, accounting for 49.6 per cent of total tourist arrivals upto the month of December 2019.

The gross official reserves were estimated at US dollars 7,638.5 million as at 31st December 2019.rupee (0.4 per cent) during this period.

(LI)

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