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Sri Lanka's merchandise trade deficit increased from last year in October, data released by the central bank showed Friday.
The trade deficit increased to $868.9 million in October from $310.4 million in the same month last year.
Export of goods decreased 4.9 percent year-on-year to $882.2 million in October, mainly reflecting contraction in shipments of tea, rubber and minor agricultural crops. Industrial exports rose 12.8 percent, while agricultural exports declined 10.3 percent.
The value of imports climbed 41.4 percent from last year to $1.75 billion during the month, owing mainly to high growth in investment goods and intermediate goods, whose shipments rose by 58.7 percent and 42.7 percent respectively.
In the January-October period, the trade deficit more than doubled to $7.73 billion from $3.86 billion in the same period last year. Exports advanced 23.4 percent year-on-year in the eleven-month period, while imports climbed 50.7 percent.
The trade deficit increased to $868.9 million in October from $310.4 million in the same month last year.
Export of goods decreased 4.9 percent year-on-year to $882.2 million in October, mainly reflecting contraction in shipments of tea, rubber and minor agricultural crops. Industrial exports rose 12.8 percent, while agricultural exports declined 10.3 percent.
The value of imports climbed 41.4 percent from last year to $1.75 billion during the month, owing mainly to high growth in investment goods and intermediate goods, whose shipments rose by 58.7 percent and 42.7 percent respectively.
In the January-October period, the trade deficit more than doubled to $7.73 billion from $3.86 billion in the same period last year. Exports advanced 23.4 percent year-on-year in the eleven-month period, while imports climbed 50.7 percent.
