Sri Lanka exports up 37-pct in February

Apr 28, 2011 (LBO) – Sri Lanka’s exports rose 36.8 percent to 860.3 million US dollars in February with apparel exports rising 47.5 percent to 366.6 million US dollars while imports rose 27 percent to 1.23 billion US dollars, the Central Bank said. Industrial exports rose 45.4 percent to 658.4 million US dollars. The Central Bank said 54.8 percent of apparel exports went to the European Union and 35.1 percent to USA. Rubber product exports had risen 70.4 percent.

Agricultural export values had increased 11.6 percent to 189.6 million US dollars, with tea growing 8.7 percent to 118.7 million US dollars. The average price of tea was 4.68 a kilogram and rubber 5.35 a kilogram, the Central Bank said.

Money printing by the Federal Reserve had debased the dollar sending the price of basic commodities including foods, energy, base metals and precious metals to new highs.

Imports had grown 27 percent to 1.23 billion dollars. Consumer goods were up 10.8 percent to 283.2 million US dollars, intermediate goods including oil was up 47.7 percent to 654.9 million US dollars and investment goods were up 294 percent to 261.7 million US dollars.

The trade gap had expanded 9.1 percent to 376 million US dollars in February. Worker remittances had g