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.