Latest Central Bank statistics show that economic activities in Sri Lanka are still concentrated in the Western Province to a large extent and there is an urgent need to extend development activities to the other regions in order to minimise the regional disparities.

According to the the province-wise data available for 2005 shows that the Western Province accounted for 51% of GDP whereas the GDP contribution of other provinces still lagging behind.

"Recent data on National Income showed that the Sri Lankan economy grew by 7.4%. Such growth is the aggregate growth of the economy encompassing all province," Central Bank said in a press release.

Sri Lanka’s National Income is compiled by the Central Bank of Sri Lanka (CBSL) based on the guide for the compilation of the National Income of the United Nations’ System of National Accounts, which is followed by all countries in the world.

The CBSL has been consistently compiling the national accounts using the first two approaches.

In the production approach, data in Agriculture and Industry are compiled by using information obtained by Statistical Officers stationed in all the districts of Sri Lanka by the Department of Census and Statistics.

In addition, data independently collected by the CBSL through a network of data collectors is used to verify the accuracy of data compiled by the Department of Census and Statistics. Production data are further verified by comparing the usage of inputs such as fertilizer, utilities such as electricity and other raw material. In the Services Sector, production data is compiled using the information that is mainly available with Head Offices of service providers. Many of these Head Offices are located in Colombo and they provide an accurate account of services provided to the entire country.

In the expenditure approach, all major variables, i.e. consumption, investment, government expenditure, exports and imports are compiled for the entire country. Data sources are the various surveys conducted by the CBSL, and data available with both private and public sector institutions.