Dec 09, 2011 (LBO) – Sri Lanka’s exports in September 2011 rose 20 percent to 854 million US dollars from a year ago, helped by higher shipments of garments and rubber and food products, the central bank said. Earnings from minor agricultural exports also grew by 12 per cent in September 2011.
“Expenditure on imports is mainly driven by increases in intermediate and investment goods,” the central bank said.
The intermediate goods imports increased year-on-year by 55.5 percent led by petroleum imports in September 2011.
The higher petroleum import expenditure was mainly due to the higher average import price of crude oil of 108.43 dollars a barrel in September 2011 compared to 75.54 dollars in the same month of 2010.
Imports of investment goods increased by 94.3 percent in September 2011, led by higher expenditures on imports of machinery and equipment, transport equipment, and building materials.
“The increase in investment good imports are partly due to the government project related import expenditure,” the statement said.
Expenditure on imports of consumer goods increased by 44.8 percent during September 2011, mainly due to higher imports of non-food consumer goods, of whi