Imports race ahead of exports

25 September 2013 05:07 am - 0     - {{hitsCtrl.values.hits}}

A A A

July trade deficit widens 40%

Despite Sri Lanka’s July export earnings increasing 8 percent Year-on-Year, the highest in the first seven months, the import expenditure raced ahead, recording a 20.8 percent YoY increase, Central Bank statistics showed.

The export earnings rose to US $ 857.8 million, helped mainly by agricultural exports which rose 21.6 percent YoY to US $ 233.9 million. Tea export earnings during the month rose 20.2 percent YoY to US $ 135.6 million.

The export earnings from industrial exports edged up 3.7 percent YoY to US $ 620.5 million, of which apparel exports amounted to US $ 372.5 million, up 13.5 percent YoY. The earnings from rubber product exports reported a 1.7 percent YoY decline to US $ 67.9 million.

The expenditure on imports during the month of July rose to US $ 1.6 billion, from US $ 1.32 billion in the same month of the previous year, led by expenditure increases in all main import categories.

The import expenditure on consumer goods rose 30 percent to US $ 237.4 million. The oil bill in the month of July surged 110 percent YoY to US $ 434.8 million.

The expenditure on importation of investment goods rose 12.8 percent YoY to US $ 347.8 million. Machinery and equipment imports rose 29.7 percent YoY to US $ 191.1 million while moneys spent on building material importation stood at US $ 98.7 million, up 7.5 percent.

The trade gap of the month of July thus widened 40.1 percent YoY to US $ 743.3 million.

The cumulative export figure for the first seven months of 2013 stood at US $ 5.51 billion, down 2.7 percent YoY. The imports expenditure in the first seven months also fell 2.6 percent YoY to US $ 10.81 billion. The January-July trade gap narrowed 2.5 percent YoY to US $ 5.29 billion.
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Employees’ health and safety our top-most priority - Brandix

When inquired, Brandix Apparel Limited said that health and safety of employe

“Workers who fainted had water sprinkled on their faces and had to work again”

Health authorities believe the first reported Covid-19 infected worker from t

“Social media ruined us” - husband of Minuwangoda Brandix factory worker

The Minuwangoda Brandix factory worker who first tested positive for Covid-19

Last rites far from home

The body of the Sri Lankan migrant worker Bandu who died of coronavirus in Du

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.