Exports

The fall in April exports was led by a 24.0 percent fall in industrial exports to 347.2 million with apparels falling 10.1 percent to 227.0 million US dollars.

Apparels had been buoyant in the first quarter.

"Despite the confidence expressed by the industry of having confirmed orders, some orders were canceled or postponed amidst uncertainties about the strength and duration of the global economic downturn," the Central Bank said.

Apparel sales to the European Union had fallen 17.6 per cent to 103 million US dollars. US sales had picked up 4.4 per cent to 103 million US dollars in April.

Tea prices had risen to 3.99 dollars per kilogram almost to the level of 4.00 dollars seen during the commodity bubble last year, but volumes were down amid a drought.

Coconut kernel prices were down 43.4 percent but earnings were up 34.8 percent to three million US dollars. Earnings from rubber exports fell 36.1 per cent in April, despite a 16.7 per cent increase in export volumes, due to weak prices compared to last April.

Imports

Consumer goods imports fell 48.2 percent to 116.0 million dollars with less money spent on sugar, wheat grain and milk products, the Central Bank said, though sugar prices were up.

Imports of motor vehicles fell 80.1 percent and electrical appliances 63.7 percent. Expenditure on intermediate goods also declined by 58.2 per cent to 349 million US dollars, led by lower petroleum and fertilizer imports.

Expenditure on investment goods fell 44.1 percent to 127 million dollars in April 2009.

Imports are a key source of government revenue. Sri Lanka has raised duties on some commodities to raise cash as revenues weakened.