Sri Lankan exports on a high 

[December 10, 2004 - 9.00 GMT] 

Sri Lanka’ s export earnings increased by 36 per cent to US dollars 582 million in October 2004 outperforming the 5 per cent growth recorded in the corresponding period in 2003.  

According to a Central Bank communiqué this is the second highest monthly export earnings ever recorded.  Expenditure on imports grew by 14 per cent recording US dollars 715 million in October, 2004 which includes petroleum imports of US$ 97 million.  The resulting trade deficit was US dollars 133 million.

During the first ten months of 2004 export earnings increased by 12 per cent to US dollars 4,725 million as compared with export earnings of US dollars 4,230 millions in the same period in 2003.  

The growth in expenditure on imports tapered off as expected amounting to US dollars 6,429 million, recording a growth of 20 per cent from US dollars 5,370 million in first ten months of 2003 largely due to higher petroleum bills, investment goods and intermediate imports of textiles.  These high imports of textiles indicate high growth in the export of garments in the future.  

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Last Updated Date: December 10, 2004 - 9:00 GMT