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Thursday, December 02, 2010 - 9.20 GMT |
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Export earnings up |
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Sri Lanka’s export earnings during the month of September have gone up by 16.7% year on year to earn US$ 663 million. Agricultural and Industrial exports have been the major contributory factor for this growth.
Imports during September have gone up by 35.9% to incur a bill of US$ 1.09 billion owing to an increase in all the major categories of imports, reported NEWS 360.lk.
Meanwhile during the first 10 months of this year Export earnings has seen a growth of 11.4% to earn US$ 5.70 billion. Those earnings have been mainly backed by the exports of Industrial products which brought in a sum of US$ 4.18 billion and Textile and Garments contributing US$ 2.34 billion.
The Agricultural exports which saw the biggest growth of 21.3% brought in US$ 1.45 billion with tea sector contributing US$ 995.8 million out of it. Tea exports during the 1st 10 months of this year grew by 17.6%
Meanwhile the Import bill grew by 36.5% year on year to incur a bill of US$ 9.74 billion thus expanding the trade deficit during the 1st 10 months to 100.5% or US$ 4 billion. Oil imports has cost the country US$ 2.24, a 57.7% increase year on year. The bill for importation of consumer goods has gone up by 45.1% by end September to stand at a figure of US$ 2.06 billion.The importation of Investment goods has cost the country US$ 2.11, a 22.6% increase.
Sri Lanka has earned US$ 2.81 as remittances during the period, a year on year growth of 13.4%.
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