Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka's exports increase 28.6% in March 2014, deficit narrows 15.5%
Mon, May 26, 2014, 06:34 pm SL Time, ColomboPage News Desk, Sri Lanka.

May 26, Colombo: Sri Lanka's trade deficit in March 2014 narrowed by 15.5 percent as earnings from exports substantially increased during the month, the Central Bank said Monday releasing the External Sector Performance review.

Earnings from exports in March 2014 increased significantly on a year-on-year (YoY) basis by 28.6 percent to US$ 1.07 billion, while expenditure on imports grew by 8.2 percent to US$ 1.672 billion.

The cumulative trade deficit for the first three months of 2014 contracted by 13.5 percent, as the growth in export earnings of 19.1 percent outpaced the 3.6 percent increase in import expenditure.

In the first three months of 2014 export earnings increased to US$2.81 billion while expenditure on imports amounted to US$ 4.67 billion.

Improved performance in agricultural exports, followed by industrial exports, led the significant growth in exports during the month of March.

Earnings from agricultural exports increased 22.4 percent in March to US$ 256.7 million, out of which tea exports increased by 20.3 percent and amounted to US$ 155.3 million.

Earnings from industrial exports, which account for more than three fourths of total export earnings increased by 25.7 percent, year-on-year, to US$ 778.5 million in March 2014, reflecting an increase in earnings from export of textiles and garments by 32.6 percent to US$ 456.7million.

Expenses on fuel imports increased 19.1 percent to US$ 457.6 million in March compared to same month in 2013.

Long term loans obtained by the government during the first quarter of 2014 amounted to US$ 657.3 million, compared to US$ 443.4 million recorded during the corresponding period in 2013.

During the month Workers' Remittances grew by 18.5 percent to US$ 605.9 million and earnings from tourism increased 26.2 percent to US$ 192.2 million.

By the end of March 2014, Sri Lanka's gross official reserves amounted to US$ 8.1 billion, while total international reserves, which include foreign assets of commercial banks, amounted to US$ 9.5 billion.

The rupee has remained relatively stable against the US dollar marginally appreciating by 0.31 per cent during the year up to 23 May, the Central Bank said.

ColomboPage - Recent 10 Stories
Two global yacht and marina construction companies show interest in marine tourism in Sri Lanka
-- [7 hours ago]
Constitutional Assembly Steering Committee discuss Electoral Reforms, devolution, Executive
-- [7 hours ago]
Tamil Diaspora organization welcomes UN Special Rapporteur's urgent call for Sri Lanka to set up minority rights mechanism
-- [8 hours ago]
Sri Lanka main Tamil party TNA condemns the shooting of two University students
-- [9 hours ago]
Group of 25 Sri Lankan Tamil refugees in Tamil Nadu camps to return home on Oct 25
-- [9 hours ago]
Sri Lanka Navy assists building facilities for transportation among islands in the Jaffna peninsula
President launches program to plant one billion trees as renewable energy sources
Five police officers arrested over deaths of two Jaffna University students
Sri Lanka Telecom wins government fiber optic broadband deal
'Living Heritage' event to showcase and promote heritage of Sri Lankan capital Colombo

Copyright © 2000, 2014 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.