Gross Domestic Product Archives

Blue Ocean Group Stands Tall During Challenging Times Construction industry Sri Lanka’s construction industry contributes to about 7.1% of the Gross Domestic Product (GDP) of the country and employs more than 650,000 workers. Despite the economic slowdown faced globally across all industries and the resultant optimism dent within the real estate and construction sector, the Colombo District Land Valuation Indicator (LVI) reported an overall 6.8% growth rate in the first half of 2021. Post-pandemic situation & subsequent economic crisis After dealing with the many hurdles that the pandemic had thrown, the Sri Lankan economy moved into a state of an unprecedented economic crisis in late 2021. As a result, the construction and real estate sectors have undergone various challenges that had caused many smaller players to drop out of the market. Many others have developed a high-risk “hit and run” approach with their projects due to the scarcity of resources ...

Value addition of heavy mineral sands in Sri Lanka-by M.S Roshan Akther Source:FT ‘Mining’ is defined as the extraction of valuable minerals from the earth and it is undertaken mainly by using two techniques, namely surface mining and underground mining. Surface mining is the most common type of mining (85% of all mining is surface mining), and is the only technique used for heavy mineral mining. Sri Lanka, despite being a small country, is well known for its non-metallic mineral resources. When evaluating the mineral resources of Sri Lanka, it is apparent that black sands or heavy minerals stand out as being the group that has the greatest potential to deliver globally significant production. As revealed from mineral investigations performed by the Geological Survey and Mines Bureau, Sri Lanka’s mineral resource base consists primarily of industrial minerals. Of these industrial minerals, heavy minerals (mainly ilmenite, rutile, zircon, garnet, and monazite) ...