Sri Lanka exports, trade gap up in August

Oct 24, 2011 (LBO) – Sri Lanka’s exports rose 19.1 percent to 951.7 million US dollars in August, while imports rose 66.5 percent to 1.83 billion US dollars expanding the trade gap 191 percent to 885 million US dollars. “The exports growth in August was mainly driven by industrial exports where significant contributions came from textiles and garments, rubber products and food and beverages,” the Central Bank said.

“Earnings from exports of textiles and garments increased by 18.4 percent while rubber
products continued to record a high growth rate of 47.4 percent.”

Agricultural exports were up 14.4 percent to 230 million US dollars bit tea exports fell 0.5 percent to 140.8 million US dollars.

Consumer goods imports rose 31 percent to 326 million US dollars. Intermediate goods imports rose 83 percent to 1.0 billion US dollars with oil rising 154 percent to 488 million US dollars, and textiles – an input to apparel exports – rising 25 percent to 190 million US dollars.

In the eight months to August exports rose 28.6 percent to 6.9 billion US dollars with industrial exports up 33.5 percent to 5.3 billion US dollars and apparel up 27.4 percent to 2.77 billion US dollars.

Imports rose 50.6 percent