Sri Lanka exports fall 13.1-pct in Aug

Oct 25, 2012 (LBO) – Sri Lanka’s exports fell 13.1 percent to 828.9 million US dollars in August 2012 from a year earlier led by tea, while imports fell 4.7 percent to 1,750 million US dollars, official data showed. Tea exports fell 32.7 percent to 95.7 million US dollars and apparel exports fell 3.9 percent to 358.8 million US dollars. Sri Lanka’s central bank said the fall in apparel exports was partly due to lower cotton prices.

Imports of textiles fell 15.1 percent to 167.9 million US dollars in August with petroleum imports at 496.6 million US dollars just 0.8 percent up from a year earlier.

Consumer goods including motor cars fell 22.9 percent to 224.7 million US dollars.

Investment goods imports rose 25.3 percent to 257.6 million US dollars but building material imports rose just 1.2 percent to 101.4 million US dollars.

The trade gap expanded 4.3 percent to 921 million US dollars in August.

In the eight months to August exports fell 5.7 percent to 6.59 billion US dollars and imports were flat at 12.8 billion US dollars, easing just 0.2 percent.

The trade gap expanded 6.3 percent to 6.2 billion US dollars.

Shrinking external trade, in the form of falling exports and imports