Sri Lanka exports, imports up in July

Sept 24, 2013 (LBO) – Sri Lanka’s exports rose 8.0 percent to 794.4 million US dollars and imports rose 20.8 percent to 1,601.1 million US dollar in July indicating a recovery in external trade, official data showed. In the seven months to July exports were still down 2.7 percent to 5,518.0 million US dollars, imports were down 2.6 percent to 10,818.6 million US dollars and the trade gap was down 2.5 percent to 5,299.8 million US dollars.

Agricultural exports rose 21 percent to 233.9 million US dollars with tea up 20 percent to 135.6 million US dollars.

Textiles and garments exports rose 13.5 percent to 372.5 million US dollars. But rubber products fell 1.7 percent to 67.9 million US dollars.

Imports rose 20.8 percent to 1,601.1 million US dollars with consumer goods imports up 30 percent to 308 million US dollars. The central bank said car and food imports were up.

Intermediate goods imports rose 21.5 percent to 943.5 million US dollars, with fuel up 110 percent to 434.8 million US dollars.

Investment goods imports were up 12.8 percent with machinery up 29.7 percent to 191.1 million US dollars.

The trade gap expanded 40 percent to 743 million US dollars in July.

The trade gap is