Sri Lanka's economy expanded by 7.9 per cent for the first quarter of this year on an annual basis, lifted by strong growth in industries and services, official data showed on Friday.
The economy expanded by 7.1 per cent during the same quarter in 2010, the Census and Statistics Department said in a statement.
Official figures showed the industry sector expanded by 11.1 per cent and services by 9.5 per cent while agriculture contracted by 5.1 per cent due to excessive rains.
The island's $50 billion economy is tipped to grow at a record 8.5 per cent this year, up from a 32-year high of 8.0 per cent posted in 2010, according to the Central Bank of Sri Lanka.
Sri Lanka's economic fortunes have improved since the island ended a decades-long ethnic conflict with Tamil Tiger rebels in May 2009.
Source : New Age
