Sri Lanka exports surge 28.6-pct in March, trade gap narrows

May 26, 2014 (LBO) – Sri Lanka’s exports surged 28.6 percent in March 2014 from a year earlier to 1,069.9 million US dollars with apparel up 32.6 percent keeping the momentum seen from the last quarter as Western economies recovered. The trade gap narrowed 13.5 percent 1,816 million US dollars in the first three months of the year.

The central bank said there was a balance of payments surplus 828.3 million US dollars in the first quarter of 2014.

Corrected first paragraph to read as March exports

Agricultural products rose 22.4 percent to 256.7 million US dollars in April with both prices and volumes up, the Central Bank said.

Apparel exports rose 32.6 percent to 456.7 million US dollars with textile imports also rising 40 percent to 496.2 million US dollars.

Rubber products were up 10.9 percent to 81 million US dollars. Mineral products surged to 22.4 million US dollars from 1.7 million a year earlier.

Imports rose 8.2 percent to 1,672.1 million US dollars with consumer goods up 18.5 percent, intermediate goods up 12.7 percent to 1,045 million US dollars and investments goods down 10.5 percent to 323.1 million US dollars.

The trade deficit fell 18.5 percent to 605 million US dollars.