Industrial production index increases in August

According to the monthly Index of industrial Production (IIP) released by the Census and Statistics Department, the volume of industrial production in Sri Lanka has increased by 0.4 percent in August 2018 compared to the same month in 2017.In terms of manufacturing industries 10 out of 20 industry groups have shown positive growths in volume of production.


The industry groups- 'Beverages', 'Manufacture of textiles' and 'Manufacture of coke and refined petroleum products' have shown remarkable increases of 17.5%, 10.5% and 9.3% respectively in their volume of production during the month of August, 2018 compared to that of August, 2017.
The volume of food products has decreased by 0.5%.
Among the 10 industries recorded negative growths in volume of production of manufacturing industries: 'Manufacture of electrical equipment', 'Manufacture of paper and paper products' 'Manufacture of tobacco products' have reported negative growth rates of 28.4%, 25.5% and 24.6% respectively.
The IIP describes changes of the volume of goods and services produced over time. Its main purpose is to provide a measure of the short-term changes in the volume of industrial production from the manufacturing sector in the country. The IIP is based on year 2015 as 100 percent production.