July 27, 2011 (LBO) – Sri Lanka’s exports rose 34 percent in May 2011, to 832 million US dollars and imports rose at a faster 67 percent to 1.76 billion dollars partly due to strong imports of cars and a aircraft, the Central Bank said. Agricultural exports rose 19 percent to 182 million US dollars, with tea rising 10 percent to 116 million dollars. Industrial exports rose 39 percent to 638 million US dollars with textiles and apparel rising 22 percent to 321 million US dollars.
Rubber products rose 107 percent to 78 million dollars driven by solid tyres and gloves, the central bank said.
Imports rose to 1.76 billion US dollars with consumer goods rising 86 percent to 352 million US dollars including 93 million US dollars spent on vehicles.
Investment goods imports rose 84 percent to 403 million US dollars with a 76 million dollar aircraft also being imported.
Intermediate goods rose 57 percent to one billion dollars with petroleum imports rising 55 percent to 440 million dollars and textiles which is an input to the export apparel industry rising 54 percent to 193 million dollars.
The May trade gap rose 116 percent to 2.3 billion US dollars.
In the first five months to May exports rose 46.9 percent to 4