Sri Lanka recorded a trade deficit of 161.40 USD Million in June of 2020.

Balance of Trade in Sri Lanka averaged -530.40 USD Million from 2003 until 2020, reaching an all time high of -50.10 USD Million in May of 2003 and a record low of -1100.70 USD Million in November of 2011. This page provides the latest reported value for - Sri Lanka Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Sri Lanka Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Central Bank of Sri Lanka

Balance of Trade in Sri Lanka is expected to be -800.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Sri Lanka to stand at -830.00 in 12 months time. In the long-term, the Sri Lanka Balance of Trade is projected to trend around -820.00 USD Million in 2021 and -610.00 USD Million in 2022, according to our econometric models.

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Sri Lanka Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-161.40 -407.00 -50.10 -1100.70 2003 - 2020 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-05-15 09:30 AM Feb $-574M $-730M $-750M
2020-06-01 09:00 AM Mar $-549M $-574M $ -840M
2020-06-22 11:50 AM Apr $-840M $-549M
2020-07-13 12:30 PM May $-407M $-840M $-750M
2020-08-31 09:00 AM Jun $-407M $ -500M
2020-09-30 09:00 AM Jul
2020-10-30 09:00 AM Aug
2020-11-30 09:00 AM Sep $ -800M

News Stream
Sri Lanka Posts Smallest Trade Gap in Nearly a Year
Sri Lanka's trade deficit shrank to USD 407 million in May of 2020 from USD 823 million in the same month of the previous year. It was the smallest monthly trade shortfall since June of 2019, as imports plummeted 44.3% to an over 10-year low of USD 994 million, mainly attributable to the measures taken from March 2020 to restrict the importation of selected goods aiming at easing the pressure on the exchange rate and international reserves from the adverse effects of the pandemic. Intermediate goods led the declines, falling 53.6%, followed by capital goods (-40.3%) and consumer goods (-20.5%). Meantime, exports fell at a softer 39% to USD 587 million, as firms gradually resumed activities following the relaxation of lockdown measures and the recovery of both domestic and global supply and demand chains to some extent. Declines were seen in shipments of industrial products (-45.9%); agricultural goods (-15.2%) and mineral products (-12.2%).
Sri Lanka Posts Widest Trade Gap since 2018
Sri Lanka's trade deficit rose to USD 840 million in April of 2020 from USD 797 million in the same month of the previous year. It was the largest monthly trade shortfall since October of 2018, as exports tumbled 64.6% to a record low of USD 282 million, severely impacted by the ongoing global pandemic disruptions. Shipments were reduced in all categories, namely industrial products (-74%) such as textiles & garments (-81.8%); gems, diamonds and jewellery (-99.4%) and rubber products (-54.2%); agricultural goods (-32%), of which tea (-20.8%) and seafood (-72.3%); and mineral products (-57.5%). Imports fell at a slower 29.6% to USD 1,123 million, as purchases decreased for intermediate goods (-35.4%); consumer goods (-18.%) and capital goods (-38.2%). Considering the first four months of the year, the country's trade deficit widened to USD 2.69 billion from USD 2.46 billion in the same period of 2019, with exports and imports falling 25.9% and 12.3%, respectively.
Sri Lanka Trade Gap Widens in January
Sri Lanka's trade deficit rose to USD 730 million in January of 2020 from USD 617 million in the same month of the previous year. Exports fell 3.2 percent to USD 1,005 million, due to lower shipments of industrial products (-1.7 percent); agricultural goods (-9.1 percent) and mineral products (-13 percent). Conversely, imports surged 4.8 percent to USD 1,735 million, as higher acquisitions of capital goods (7.6 percent) and consumer goods (23.7 percent) more than offset a decline in those of intermediate goods (-2.3 percent).
Sri Lanka Trade Gap Widens in December
Sri Lanka's trade deficit increased to USD 784 million in December of 2019 from USD 701 million in the same month of the previous year. Exports dropped 3.2 percent to USD 1,000 million, due to lower shipments of industrial products (-1.8 percent), particularly textiles and garments (-2.1 percent) and rubber products (-4.4 percent); and agricultural products (-9.8 percent), mainly tea (-9.6 percent). On the other hand, exports of mineral products advanced 67.7 percent. Meantime, imports rose 2.9 percent to USD 1,784 million, driven by higher purchases of consumer (9.5 percent) and investment goods (10.5 percent). In contrast, exports of intermediate goods declined 2.7 percent. Considering full 2019, the country’s trade gap narrowed to USD 7.99 billion from USD 10.34 billion in 2018.

Sri Lanka Balance of Trade
Sri Lanka exports mostly textiles and garments (40% of total exports) and tea (17%). Others include: spices, gems, coconut products, rubber and fish. Main export partners are United States, United Kingdom, Germany, Belgium and Italy. Sri Lanka imports petroleum, textile fabrics, foodstuffes and machinery and transportation equipment. Main import partners are India, China, Iran and Singapore.