Due to an 8 percent increase in the export volumes, export earnings in November 1999 has increased by 6 percent in comparison to1998, Central Bank told the Daily News yesterday. These volumes included tea, coconuts, garments, rubber-based products, gems and diamonds. However, export prices of tea, rubber and garments had been low.

     Agricultural exports too have recovered in November due to higher earnings from three major coconuts products and tea exports. Tea exports increased by 2 per cent in November 1999, the first increase after July 1998, Daily News reveals.

     However, cumulative export earnings during January to November 1999 had indicated a decline of 5 per cent due to low earnings from agricultural products. Due to the import of the second aircraft by SriLankan Airlines the value of imports increased by 30 per cent. The value of imports excluding the aircraft have grown by 9 per cent due to higher seasonal demands at the end of the year. Import of motorcycles and cars too have increased by 68 per cent under the a partial duty waiver facility granted to public sector employees on import of motor cars.

     The trade deficit during January to November 1999 amounted to US dollars 1,139 million compared to US dollars 1,017 million during the first eleven months of 1998, Central Bank revealed to the Daily News.

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