Sri Lanka’s trade deficit decreased to USD 729 million in April of 2022 from USD 889 million a year ago, pointing to the smallest trade gap since last November, as imports dropped while exports surged. Imports fell 0.5 percent from a year earlier to USD 1,699 million on lower purchases of consumer goods (-15.4%), in particular sugar and confectionery (-35.5%) and seafood (-15.9%). Also, purchases declined for investment goods (-24.6%) namely machinery and equipment (-21.2%), building material (-22.9%). By contrast, imports grew for intermediate goods (11.3%), namely fuel (23.5%), textiles and textile articles (23.1%). Meanwhile, exports soared 18.5% to USD 969.8 million, boosted by sales of industrial products (21.9%), mainly textile and garments (22.3%), rubber products (10.7%); and agricultural products (7.3%), in particular tea (1.5%). Considering the first four months of the year, the trade gap widened to USD 3,131 million from USD 2,948 million in the same period of 2021. source: Central Bank of Sri Lanka
Balance of Trade in Sri Lanka averaged -512.77 USD Million from 2002 until 2022, reaching an all time high of 110.30 USD Million in August of 2002 and a record low of -1100.65 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 June of 2022.
Balance of Trade in Sri Lanka is expected to be -500.00 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 -500.00 USD Million in 2023, according to our econometric models.