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Thursday, 11 August 2016 - 12:55
Sri Lanka trade deficit widens by 15.7 percent in May 2016
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Sri Lanka's trade deficit widened 15.7 percent to 813.5 million dollars in May 2016 from 702.9 million dollars a year earlier.

On a cumulative basis, in the first five months of 2016, the trade deficit increased by 1.4 percent to US$ 3.434 billion from US$ 3.388 billion recorded during the same period of 2015.

The Bank said the trade deficit during the month widened due to decline in export earnings amidst a marginal growth in import expenditure.

Decline in export earnings was mainly due to the subdued performance in exports of tea, rubber products and textiles and garments.

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