The Department of Census and Statistics (DCS) said 2Q positive growth was driven by the industry sector accounting for 25.5% of the GDP, growing by a high 10.9% from a low base.

The service sector with a share of 55.4% of the GDP expanded by 2.5% and the agriculture accounting for 10% of GDP expanded by 1.7% as against the second quarter of last year.

In addition, taxes less subsidies on products accounting for 9.1% of the GDP grew by 2.8% in the second quarter of 2024, announced.

“Sri Lanka experienced lower inflation, declining interest rates and eased import restrictions in the second quarter of 2024,” the DCS said, adding that these factors helped businesses access working capital and raw materials more easily, contributing to economic growth