Sri Lanka exports up 11-pct in September

Nov 15, 2013 (LBO) – Sri Lanka’s exports rose 11 percent to 890 million US dollars with apparel exports surging 27 percent to 386 million US dollars amid a recovery in US and European markets, the Central Bank said. Apparel exports rose 30.7 percent to the US and 27.7 percent to the EU. Rubber product exports rose 28 percent to 73 million dollars and food and beverage 46 percent to 18.8 million US dollars.

Imports rose 22 percent 1.6 billion US dollars with consumer goods imports up 13.1 percent to 233 million US dollars and intermediate goods up 26.7 percent to 1.0 billion rupees.

Fuel imports were up 61 percent to 516 million US dollars and textile imports were down 3 percent to 174 million US dollars. Investment goods were up 19 percent to 335 million US dollars.

The trade deficit rose 41.1 percent to 723 million US dollars.

In the nine months to September exports were up 0.3 percent to 7.3 billion dollar and imports were down 0.9 percent to 14.0 billion dollars.

The trade deficit contracted 2.1 percent to 6.7 billion dollars.

The trade deficit is driven by dollar inflows from outside the merchandise trade account.

When the rupee proceeds of remittances (exports of labour),