Sri Lanka.s Exports Drop

Sri Lanka exports down 6.8-pct in April
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– Sri Lanka’s exports fell 6.8 percent in April 2013 to 696.6 million US dollars with apparels falling 14.98 percent to 275 million US dollars from a year earlier, and exports in first four months down 7.8 percent, the Central Bank said.
Industrial exports were down 7.5 percent to 518 million US dollars.Agricultural exports fell 0.9 percent to 175.6 million US dollars, but tea was up 1.2 percent to 106.4 million US dollars.

Imports rose 5.7 percent to 272.7 million US dollars with consumer goods up 12.7 percent to 272.7 million US dollars, intermediate goods up 5.5 percent to 884.4 million US dollar.

Petroleum imports fell 5.2 percent to 343.4 million US dollars and textile and apparel fell 15.4 percent to 154.1 million US dollars.

Investment goods were up 1.2 percent to 363.4 million US dollars.

Machinery and equipment were barely up 1.1 percent to 186.5 million US dollars, transport equipment were down 27.0 percent to 60.3 million US dollars and building materials were up 26.8 percent to 116.3 million US dollars.

The trade deficit expanded 19.2 percent to 825.4 million US dollars.

In the first four months exports rose 7.8 percent to 3,059.8 million US dollars, imports fell 11.3 percent to 6,025.4 million US dollars and the trade deficit was down 14.6 percent to 2,965.6 million US dollars.

 

A trade deficit is caused when domestic economic agents outside merchandise exports, including remittances, tourism receipts, borrowings and foreign direct investments.The Central Bank said worker remittances (exports of labour) were 2.1 billion dollars and earnings from tourism receipts were 407 million dollars.

The central bank said there were 612 million US dollars flowing into Treasuries markets (exports of debt) and 546 million US dollars in other loans.(June 24, 2013-LBO)

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