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Sri Lanka's exports in September 2011 rose 20 percent to 854 million US dollars from a year ago, helped by higher shipments of garments and rubber and food products, the central bank said.
Imports in September rose 61 percent to 1.76 billion US dollars with sharp increases seen in spending on petroleum, investment goods and vehicles.
The trade gap in September 2011 widened 137 percent to 905 million US dollars, a central bank statement said.
"The main contributors to increased industrial exports are garments and textiles, diamond and jewellery, rubber products and food, beverages and tobacco," it said.
Earnings from exports of textiles and garments increased by 13.7 percent to 334 million dollars while diamond and jewellery shot up 88.7 percent in September 2011.
Exports of rubber products increased by 37.3 percent to 71 million dollars in the same period.
"Exports of food, beverages and tobacco increased by 48 percent in September 2011 where significant contributions came from tinned and bottled fruits, animal fodder and fruits and vegetable juices," the central bank said.
The average export price of tea increased by 3.9 percent to 4.57 US dollars a kilo while average rubber prices rose by 40.3 percent to 4.96 dollars a kilo in September 2011 compared to corresponding month of 2010.
Earning from exports of coconut increased sharply by 75.6 percent in September, 2011 against the same month of 2010 owing to the increase of both volumes and prices of desiccated coconut, copra and coconut oil.
Earnings from minor agricultural exports also grew by 12 per cent in September 2011.
"Expenditure on imports is mainly driven by increases in intermediate and investment goods," the central bank said.
The intermediate goods imports increased year-on-year by 55.5 percent led by petroleum imports in September 2011.
The higher petroleum import expenditure was mainly due to the higher average import price of crude oil of 108.43 dollars a barrel in September 2011 compared to 75.54 dollars in the same month of 2010.
Imports of investment goods increased by 94.3 percent in September 2011, led by higher expenditures on imports of machinery and equipment, transport equipment, and building materials.
"The increase in investment good imports are partly due to the government project related import expenditure," the statement said.
Expenditure on imports of consumer goods increased by 44.8 percent during September 2011, mainly due to higher imports of non-food consumer goods, of which nearly 48.8 percent comprised of motor vehicles.
In the first nine months of 2011, earnings from exports increased by 27.7 percent to 7,820 million US dollars while spending on imports rose 51.8 percent to 14,685 million US dollars.
The trade deficit expanded to 6,865 million US dollars in the nine-month period.
"Part of the trade deficit is on account of government related project imports which have been funded mainly by foreign loans obtained by the government," the central bank said.
http://lbo.lk/fullstory.php?nid=54543291
Imports in September rose 61 percent to 1.76 billion US dollars with sharp increases seen in spending on petroleum, investment goods and vehicles.
The trade gap in September 2011 widened 137 percent to 905 million US dollars, a central bank statement said.
"The main contributors to increased industrial exports are garments and textiles, diamond and jewellery, rubber products and food, beverages and tobacco," it said.
Earnings from exports of textiles and garments increased by 13.7 percent to 334 million dollars while diamond and jewellery shot up 88.7 percent in September 2011.
Exports of rubber products increased by 37.3 percent to 71 million dollars in the same period.
"Exports of food, beverages and tobacco increased by 48 percent in September 2011 where significant contributions came from tinned and bottled fruits, animal fodder and fruits and vegetable juices," the central bank said.
The average export price of tea increased by 3.9 percent to 4.57 US dollars a kilo while average rubber prices rose by 40.3 percent to 4.96 dollars a kilo in September 2011 compared to corresponding month of 2010.
Earning from exports of coconut increased sharply by 75.6 percent in September, 2011 against the same month of 2010 owing to the increase of both volumes and prices of desiccated coconut, copra and coconut oil.
Earnings from minor agricultural exports also grew by 12 per cent in September 2011.
"Expenditure on imports is mainly driven by increases in intermediate and investment goods," the central bank said.
The intermediate goods imports increased year-on-year by 55.5 percent led by petroleum imports in September 2011.
The higher petroleum import expenditure was mainly due to the higher average import price of crude oil of 108.43 dollars a barrel in September 2011 compared to 75.54 dollars in the same month of 2010.
Imports of investment goods increased by 94.3 percent in September 2011, led by higher expenditures on imports of machinery and equipment, transport equipment, and building materials.
"The increase in investment good imports are partly due to the government project related import expenditure," the statement said.
Expenditure on imports of consumer goods increased by 44.8 percent during September 2011, mainly due to higher imports of non-food consumer goods, of which nearly 48.8 percent comprised of motor vehicles.
In the first nine months of 2011, earnings from exports increased by 27.7 percent to 7,820 million US dollars while spending on imports rose 51.8 percent to 14,685 million US dollars.
The trade deficit expanded to 6,865 million US dollars in the nine-month period.
"Part of the trade deficit is on account of government related project imports which have been funded mainly by foreign loans obtained by the government," the central bank said.
http://lbo.lk/fullstory.php?nid=54543291
