"As demand for exports remained fettered by the slow recovery of major export destinations, namely, the EU and the USA, the decline in export earnings continued into 2013," the Central Bank said.
Meanwhile, expenditure on imports during the month of January fell 21.3 percent YoY to US $ 1507.2 million amidst expenditure on importing petroleum products falling sharply by 47.6 percent YoY to US $ 269.7 million.
Expenditure on importing investment goods fell 15.9 percent YoY to US $ 440.2 million in the backdrop of importation of transport equipment falling 63.6 percent YoY to 52.7 million. However, import expenditure on building materials rose 7.2 percent YoY to US $ 137 million.
Moneies spent on consumer goods imports fell 14.2 percent YoY to US $ 246.8 million while expenditure on machinery and equipment imports remained flat at US $ 250 million.
According to the Central Bank, the decline in import expenditure reflects the effectiveness of policies introduced in early 2012.
|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.|