Saturday, 26 August 2017 - 10:24
SL export revenue, gross reserves improve


Sri Lanka’s export earnings in June 2017 expanded for the fourth consecutive month 987 million dollars, registering a 9.6 per cent year-on-year growth.

The largest contribution to this growth was from industrial exports (77.1 per cent) followed by agricultural exports (20.6 per cent).

Central bank said on a cumulative basis, earnings from exports grew by 5.2 per cent (year-on-year) to 5,398 million dollars during the first half of 2017.

Meanwhile, the expenditure on imports in June 2017 declined for the first time since September 2016 to 1,541 million dollars registering a year-on-year decline of 8 per cent.

It reflected lower imports of all major categories, particularly intermediate goods imports.

On a cumulative basis, import expenditure at 10,151 million dollars during the first half of 2017 increased by 8.9 per cent (year-on-year) largely due to higher imports of fuel, gold and rice.

Central Bank also said Sri Lanka’s gross official reserves increased to 7 billion dollars by end June 2017 with the proceeds from the International Sovereign Bonds issuance and the syndicated loan facility.

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