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ஜெனரல்
In March 2024, Sri Lanka's exports surged to a 19-month high of $1.14 billion, propelling first-quarter performance by 5.7% to $3.17 billion, according to the Central Bank's latest external trade data. This uptick, 9.8% higher than the corresponding month in the previous year and surpassing February 2024 figures, was driven by robust industrial exports, particularly petroleum products and textiles, marking a notable 11.7% increase to $912.2 million. Despite challenges, including a widened trade deficit compared to the previous month, Sri Lanka's export outlook appears promising, with the Central Bank projecting an 8.4% increase in exports for the year 2024 to $12.9 billion.
Conversely, expenditure on merchandise imports also saw growth, rising by 4% to $1.5 billion in March and by 13% to $4.4 billion in the first quarter. Notably, fuel imports led the increase in expenditure on intermediate goods, while consumer goods imports rose due to higher spending on food and beverages. Although the trade deficit narrowed in March 2024 compared to the previous year, the cumulative deficit for January to March 2024 was higher than the same period in 2023. Despite these challenges, the increase in both export and import volumes suggests positive momentum in Sri Lanka's external trade, supported by the recent appreciation of the Sri Lankan rupee against the US dollar.
