Increased exports brings Balance of Payments Surplus 

[Wednesday, August 08, 2007 - 6.30 GMT] 

Sri Lanka had a balance of payments surplus by end June this year, largely due to increased exports during the first five months of the current year, while inflation has declined to 13% in May 2007, according to the Central Bank.

The Central Bank of Sri Lanka figures show that exports increased by 14.4% while imports increased at a relatively lower rate of 7.5% during the first five months of this year. This positive development recorded a balance of payment surplus of USD 192 million by the end of June 2007.  

The Gross Official Reserves of Sri Lanka was estimated at USD 2,719 million, which is equivalent to 3.1 months of imports. Inflation has declined to 13.0% from 13.7% in May 2007. 

The Central Bank envisages issuing an international bond during September 2007, which would enhance the inflow of foreign exchange to the country. 

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Last Updated Date: August 08, 2007 - 6.30 GMT