Sri Lanka’s trade deficit widened to USD 586 million in August of 2021 from USD 342 million in the same month of the previous year. Exports jumped by 16.2% yoy to USD 1,100 million, reaching the highest level of exports recorded in a month of August, mainly boosted by sales of industrial products (17.5%), in particular textiles and garments (12.1%) and rubber products (24.8%). There were also increases in sales of agricultural products (10.9%), mainly tea (13.4%) and coconut (18.1%); followed by mineral products (93.3%). Meanwhile, imports grew at a faster 30.8% to USD 1,687 million on higher purchases of consumer goods (41.8%), in particular medical and pharmaceuticals (106.8%); intermediate goods (27.6%), mainly fuel (42.5%) and textiles and products thereof (24.1%); investment goods (30.8%), led by machinery and equipment (26.1%). During the January-August period of 2021, the trade deficit increased to USD 5,509 million, from USD 3,812 million in the same period of 2020. source: Central Bank of Sri Lanka

Balance of Trade in Sri Lanka averaged -533.01 USD Million from 2003 until 2021, 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 October of 2021.

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. In the long-term, the Sri Lanka Balance of Trade is projected to trend around -800.00 USD Million in 2022 and -610.00 USD Million in 2023, according to our econometric models.

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Sri Lanka Balance of Trade


Calendar GMT Actual Previous Consensus TEForecast
2021-09-13 02:40 AM Jul $-607M $-760M
2021-10-21 03:15 AM Aug $-586M $-607M $-568M
2021-11-17 09:00 AM Sep $-586M $ -780M


News Stream
Sri Lanka Trade Gap Widens in August
Sri Lanka’s trade deficit widened to USD 586 million in August of 2021 from USD 342 million in the same month of the previous year. Exports jumped by 16.2% yoy to USD 1,100 million, reaching the highest level of exports recorded in a month of August, mainly boosted by sales of industrial products (17.5%), in particular textiles and garments (12.1%) and rubber products (24.8%). There were also increases in sales of agricultural products (10.9%), mainly tea (13.4%) and coconut (18.1%); followed by mineral products (93.3%). Meanwhile, imports grew at a faster 30.8% to USD 1,687 million on higher purchases of consumer goods (41.8%), in particular medical and pharmaceuticals (106.8%); intermediate goods (27.6%), mainly fuel (42.5%) and textiles and products thereof (24.1%); investment goods (30.8%), led by machinery and equipment (26.1%). During the January-August period of 2021, the trade deficit increased to USD 5,509 million, from USD 3,812 million in the same period of 2020.
2021-10-21
Sri Lanka July Trade Deficit Nearly Triples
Sri Lanka’s trade deficit nearly tripled to USD 607 million in July of 2021, from USD 209 million in the same month of the previous year. Exports went up 1.7 percent to USD 1,104 million, as increases in sales of rubber products (13.6 percent to USD 93 million), petroleum products (94.7 percent to USD 52 million), and spices (12.0 percent to USD 46 million) were offset by lower exports of textiles and garments (-3.2 percent to USD 454 million) and tea (-12.1 percent to USD 115 million). Meanwhile, imports rose a steeper 32.2 percent to USD 1,710 million, underpinned by higher purchases of fuel (27.8 percent to USD 256 million); textiles and products thereof (27.4 percent to USD 251 million); and machinery and equipment (47.8 percent to USD 232 million). During the January-July period of 2021, the trade deficit expanded to USD 4,922 million, from USD 3,471 million in the same period of 2020.
2021-09-13
Sri Lanka Trade Gap Widens Sharply in June
Sri Lanka’s trade deficit widened significantly to USD 652 million in June of 2021, from USD 161 million in the same month last year. Exports rose 12.6 percent from a year earlier to USD 1,007 million, mainly driven by tea (7.8 percent to USD 124 million), rubber products (40.7 percent to USD 93 million), and to a lesser extent, textiles & garments (2.9 percent to USD 416 million). Meanwhile, imports surged 57.2 percent to USD 1,659 million, on the back of textiles & products thereof (57.5 percent to USD 277 million), machinery & equipment (84.6 percent to USD 270 million), building material (52.3 percent to USD 119 million), and chemical products (61.9 percent to USD 102 million). Considering the first half of 2021, the country's trade gap widened to USD 4,316 million from USD 3,262 million in the same period of the previous year.
2021-08-13

Sri Lanka Last Unit Reference Previous Highest Lowest
Balance of Trade -586.30 USD Million Aug/21 -606.60 -50.10 -1100.70
Current Account -990.17 USD Million Jun/21 -546.19 450.16 -1695.29
Current Account to GDP -1.30 percent of GDP Dec/20 -2.20 -0.40 -19.30
Exports 1100.40 USD Million Aug/21 1103.50 1136.86 282.30
Imports 1686.70 USD Million Aug/21 1710.10 2048.50 408.00
External Debt 50438.48 USD Million Jun/21 47307.20 55915.96 37098.10
Terms of Trade 91.00 points Aug/21 93.93 161.24 74.50
Tourism Revenues 3.00 USD Million Jul/21 2.00 475.20 0.50
Remittances 478.00 USD Million Jun/21 460.00 812.70 241.30
Foreign Direct Investment 173.51 USD Million Jun/21 124.38 961.38 20.00


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.