Sri Lanka’s exports, trade gap down in Feb, apparel up

May 02, 2013 (LBO) – Sri Lanka’s exports fell 2.9 percent to 797.5 million rupees in February 2013 from a year earlier but apparel exports rose 8.8 percent to 371.6 million US dollars, the Central Bank said. Rubber product exports were down 12 percent to 66.1 million US dollars and agricultural exports were down 5.9 percent to 174.5 million US dollars.

Imports were down 9.3 percent to 1.43 billion rupees. Consumer goods fell 16.9 percent to 208.7 million dollars and intermediate goods fell 8.3 percent to 868.4 million US dollars with petroleum falling 17.2 percent to 418.5 million US dollars.

Textile and textile articles rose 18.3 percent to 163 million US dollars indicating stronger demand for future apparel exports.

Investment goods fell 6.3 percent to 355.6 million US dollars. Transport equipment were down 28.2 percent to 84.2 million US dollars.

The trade balance was down 16.3 percent to 635.7 million US dollars, the Central Bank said.

In the first two months of the year exports were down 10.7 percent to 1.52 billion US dollars while imports fell 15.6 percent to 2.95 billion US dollars. The trade gap fell 20.3 percent to 1.42 billion US dollars.

Worker remittances rose 7.5