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Sri Lanka exports up on commodity boom

June 16, 2008 (LBO) - Sri Lanka's exports grew 14.

7 percent helped by strong prices for tea, while apparel exports grew by a slow 5.3 percent and the trade deficit expanded 92 percent on higher oil and capital goods imports, official data showed.
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The Central Bank said April export earnings increased 14.7 percent to 610 million US dollars with agricultural and industrial exports contributing 59 percent and 37 percent.
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According to official data, agriculture exports grew 46.5 percent in April 2008 compared with a year ago on the back of increased export prices of tea.

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The average export price of tea was four US dollars a kilogram, the highest recorded up to then, the Central Bank said.

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Industrial exports grew by 6.9 percent supported by increased exports of garments, food, beverages, tobacco, rubber products, petroleum products and ceramics, official data showed.

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Cumulative exports during January to April 2008 grew 11.

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3 percent to 2,488 million US dollars, the bank said.

Expenditure on imports in April increased 37 percent to 1,269 million US dollars.

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The Central Bank said import expenses on consumer goods such as food expanded significantly in April 2008 owing to increased expenditure on rice and sugar.

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