Sri Lanka exports surge in Nov

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

Jan 21, 2011 (LBO) – Sri Lanka’s exports surged 36 percent in November 2010 to 833 million US dollar, led by industrial exports which grew 40.8 percent from a year earlier to 633 million US dollars, according to official data. The surge helped exports to grow 3.7 percent to 7.33 billion US dollars according to official data.

The Central Bank said earnings from apparel exports to the European Union increased 39.2 percent and to the United States by 28.7 percent in November.

Machinery including boats bicycles, and electrical equipment had also risen ‘significantly’ to 67 million US dollars, the Central Bank said.

Agricultural exports which were 22 percent of total exports had growth with tea prices remaining high at 4.55 a kilogram and rubber around 4.14 dollars a kilo in November.

Imports in November grew 19.1 percent. Investment goods were up 6.6 percent to 263.9 million US dollars, consumer goods were up 31 percent to 236 million US dollars and intermediate goods were up 21 percent to 606 million US dollars.

Petroleum imports were up 43.6 percent and textile and clothing were up 15 pecent to 160 million US dollars.

The trade deficit in November fell 13.2 percent from a year earlier to 279 mill

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