Sri Lanka exports rise in Sri Lanka in September 2024

• 5opn1
• November 1, 2024
• Business News
• Sri Lanka exports
• 0 Comments

In September 2024, Sri Lanka’s export sector saw growth, with exports increasing by 4.1% year-on-year, surpassing the $1 billion mark. However, this improvement came alongside a growing trade deficit, which the Central Bank attributed to rising imports.

Despite these challenges, the Central Bank’s report highlights a stronger financial account, supported by foreign investments in the Colombo Stock Exchange (CSE) and government securities, driving an overall surplus of $2.28 billion in the country’s balance of payments.

The merchandise trade deficit widened to $634 million in September 2024, compared to $377 million in September 2023, as import expenses rose more sharply than export revenues.

From January to September 2024, the cumulative trade deficit expanded to $4.2 billion, up from $3.34 billion over the same period in 2023