Thu, 28 Mar 2024 Today's Paper

SL Exports Gain Amid Investor Concern

11 May 2010 02:01 pm - 0     - {{hitsCtrl.values.hits}}

A A A

Sri Lanka’s exports recovered in February amid investor concern that a sovereign-debt crisis in Europe may damp demand for the nation’s tea and rubber.


Overseas sales gained 20 percent to $629 million in February from a year earlier, after falling 3.9 percent in January, the Central Bank of Sri Lanka said in an e-mailed statement today.
 

“Sri Lanka will be vulnerable to the situation in Europe and the Euro’s decline,” said Saminda Weerasinghe, research manager at Acuity Stockbrokers Pvt. in Colombo. “Our exports could see ups and downs.”


European policy makers unveiled an unprecedented loan package worth almost $1 trillion and a program of bond purchases to stop the debt crisis, whose epicenter is Greece, from threatening to shatter confidence in the euro.


Sri Lanka’s exports could also slow after the European Union said Feb. 15 it will suspend preferential trade benefits due to human rights shortcomings in the island nation’s 26-year civil war, which ended in May last year.


Agricultural shipments gained 56.4 percent to $169.9 million in February, the central bank said. Industrial exports rose 11.1 percent to $452.8 million, while clothing and textile shipments fell 9.7 percent, it said.


Sri Lanka’s trade deficit in February widened to $344.5 million, four times the shortfall a year ago, today’s report showed. Imports gained 60.6 percent to $973.4 million. - Bloomberg


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

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine 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





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

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H