Sri Lanka’s exports and imports decline in November 2024
- 5opn1
- January 2, 2025
- Business News
- Sri Lanka’s exports and imports decline in November 2024
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Sri Lanka’s Both exports and imports suffered a dip month-on-month (M-o-M) in November, though enjoying growth year-on-year (YoY) and cumulative wise, as per latest external trade data released by the Central Bank of Sri Lanka (CBSL) this week.
Earnings from merchandise exports amounted to $ 994 million as against $ 1.15 billion in October. The dip YoY was marginal at 0.5% and was attributed to a reduction in mineral and industrial exports, despite an increase in agricultural exports. Export value in the first 11 months was $ 11.67 billion, up from $ 10.9 billion in the corresponding period of 2023.
On the other hand, imports in November amounted to $ 1.49 billion, down from $ 1.7 billion in October. However, YoY, imports value rose by 7.7% supported by the significantly low base recorded in November 2023.
Cumulative import value in the first 11 months of 2024 was $ 16.9 billion, up from $ 15.3 billion in the corresponding period of 2023.
