Sri Lanka consumption down by 29% in October

Cement sales in Sri Lanka fell 29.2 per cent YoY to 566,000t in October, according to the Central Bank of Sri Lanka.

The drop follows a gain of 30.6 per cent YoY to 763,460t in September after falling for three consecutive months until August. In 8M17 sales reached 1.942Mt, down 9.1 per cent when compared with the equivalent period of the previous year.

However, the bank’s governor, Dr Indrajit Coomaraswamy, said the decrease was nothing more than a blip and does not imply that the construction sector is cooling.

Cement sales in the first 10 months of the year advanced 4.3 per cent YoY to 6.796Mt.