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Tuesday, 01 August 2017 - 16:37
Sri Lanka's trade balance widens
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The latest data issued by the Central Bank show that the deficit in the trade balance widened to 886 million dollars in May this year compared to 810 million dollars recorded in May 2016.

The cumulative trade deficit during the first five months of 2017 has increased to 4,200 million dollars from 3,415 million dollars in the corresponding period of 2016.

The Central Bank's External Sector Performance for May showed that Sri Lanka's export earnings increased by 7.8 per cent to 841 million dollars with increased contributions from the agricultural exports and industrial exports.

The value of agricultural exports rose to 223 million dollars in May, recording an increase of 32 per cent.

Up to May, the export revenue stood at 4,410 million dollars.

Meanwhile, the import expenditure for the first five months of the year was 8,610 million dollars recording a rise of 12.6 per cent (year-on-year) largely due to higher imports of fuel, rice, and gold.

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