Continuing a robust recovery, Sri Lankas export earnings clocked in a double-digit growth for the first eleven months of this year, which saw the trade deficit expand marginally, the Central Bank said Friday.
Despite higher export numbers, the trade deficit for November remained flat at US$ 135 mn year on year. rn
rnHowever, an overall improvement in the liquidity and the foreign exchange market, lessened the pressure on the exchange rate, which helped the Central Bank to pick up US$ 360.2 mn from the market on a net basis, during the first eleven-months of 2003. rn
rnThe period Jan-Nov. saw the trade deficit in dollar terms surge to US$ 1.276 bn, just US$ 2 mn over the corresponding period in 2002. The pick up was largely due to a higher import bill of US$ 5,914 (8 percent growth), though export netted in revenues of US$ 4,638 bn (10 percent growth).rn
rnrnMeanwhile, export earnings for November rose eight percent to US$ 409 mn over US$ 387 mn reported in 2002. rn