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CENTRAL BANK FIGURES SHOW THAT SRI LANKA’S TEA AND APPAREL EXPORTS GREATLY INCREASEDBy Walter JayawardhanaThe latest statistics issued by Sri Lanka’s Central Bank revealed
that the island nation’s trade deficit narrowed by 35.1 percent
from an year earlier due to its leading exports of tea and clothing
greatly increased. The statistics said the exports of apparels and tea oil surged by 225
million US Dollars than an year ago same month. The Central Bank further said the imports to the country rose 6.2 percent
to 915.5 million Dollars while exports climbed 33.9 percent to 690.5
million dollars helped by higher sales of apparels, tea and vegetable
cooking oil. During the first seven months the trade deficit became narrower than
previous year by 15.6 percent , said the report adding that it stood
at 1.8 billion US Dollars . This was helped by a drop of 3.9 of the
oil import bill due to the price increase by the government. The report revealed that remittances sent by Sri Lankans employed abroad
during the first seven months increased 19 percent to 1.5 billion dollars
than last year. At the end of July the gross officials reserves stood at 2.7 billion
dollars enough to purchase three months of imports, the report further
said. |
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