Issuing a communique on releasing IIP for the month of November, 2017 Director General of DCS, Dr. A.J. Satharasinghe stated that the IIP; the volume of industrial production has increased by 4.4% in the month of November, 2017 compared to the same month in 2016. IIP reported for the month of November 2017 and 2016 were 108.9 and 104.3 respectively.The Department of Census and Statistics compiles number of economic indicators including IIP on regular basis. Government as well as industries use this economic data to understand the trends and patterns of Sri Lankan economy, identify the drivers of economic growth, evaluate economic performance and for the formulation and assessment of economic policies. IIP conveys the status of production in the industrial sector of an economy in a given period of time, in comparison with a fixed reference point in the past. It reveals the short term changes of the industrial sector.
The manufacturing industries; ‘Coke and refined petroleum products’, ‘Fabricated metal products’ and ‘Basic pharmaceutical products’ have shown remarkable increases of 26.5%, 23.6% and 17.0% respectively in their volume of production during the month of November, 2017 compared to that of November, 2016. The volume of food products has increased by 3.4%.
However, the volume of the manufacturing industries; ‘Beverages’, ‘Wood and product of wood’ and ‘Furniture’ reported decreases in the month of November 2017 by 21.8%, 12.2% and 11.1% respectively during this period.
The DCS stated that further details on monthly IIP of November, 2017 have been published in its website: (www.statistics.gov.lk/Industries).