Sri Lanka posted a trade surplus of USD 21 million in June of 2022, switching from a USD 652 million deficit a year ago. It was the first trade surplus since August 2002, as exports jumped while imports plunged, amid soaring commodity prices and a sharp depreciation of the rupee. Exports surged 23.9% to USD 1,248 million, boosted by sales of industrial products (28.4%), mainly textile and garments (36.9%), rubber products (7.2%). Meanwhile, imports slumped 26.1 percent from a year earlier to USD 1,226 million on lower purchases of consumer goods (-53.8%), in particular dairy products (-75.0%) and vegetables (-45.5%). Also, purchases declined for intermediate goods (-2.8%), mainly chemical products (-24.0%), plastics and articles thereof (-39.9%). Further, investment goods plunged by 46.3%) namely machinery and equipment (-42.2%), building material (-42.0%). Considering the first half of the year, the trade gap narrowed to USD 3,514 million from USD 4,316 million in H1 of 2021. source: Central Bank of Sri Lanka

Balance of Trade in Sri Lanka averaged -512.77 USD Million from 2002 until 2022, reaching an all time high of 110.30 USD Million in August of 2002 and a record low of -1100.65 USD Million in November of 2011. This page provides the latest reported value for - Sri Lanka Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Sri Lanka Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

Balance of Trade in Sri Lanka is expected to be -430.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka Balance of Trade is projected to trend around -500.00 USD Million in 2023, according to our econometric models.

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Sri Lanka Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-07-12 02:30 AM May $-404M $-729M $-910M
2022-08-02 02:00 AM Jun $21M $-404M $ -500M
2022-09-13 02:40 AM Jul $21M


Related Last Previous Unit Reference
Balance of Trade 21.00 -404.00 USD Million Jun 2022
Current Account -1331.32 -1139.47 USD Million Mar 2022
Current Account to GDP -1.30 -2.20 percent of GDP Dec 2020
Imports 1226.00 1451.00 USD Million Jun 2022
Exports 1248.00 1047.00 USD Million Jun 2022
External Debt 50592.85 50724.21 USD Million Mar 2022
Terms of Trade 71.33 77.61 points May 2022
Foreign Direct Investment 189.66 178.75 USD Million Mar 2022
Tourism Revenues 173.60 148.10 USD Million Feb 2022
Remittances 204.90 259.20 USD Million Feb 2022

Sri Lanka Balance of Trade
Sri Lanka exports mostly textiles and garments (40% of total exports) and tea (17%). Others include: spices, gems, coconut products, rubber and fish. Main export partners are United States, United Kingdom, Germany, Belgium and Italy. Sri Lanka imports petroleum, textile fabrics, foodstuffes and machinery and transportation equipment. Main import partners are India, China, Iran and Singapore.
Actual Previous Highest Lowest Dates Unit Frequency
21.00 -404.00 110.30 -1100.65 2002 - 2022 USD Million Monthly

News Stream
Sri Lanka Posts Trade Surplus for 1st Time Since 2002
Sri Lanka posted a trade surplus of USD 21 million in June of 2022, switching from a USD 652 million deficit a year ago. It was the first trade surplus since August 2002, as exports jumped while imports plunged, amid soaring commodity prices and a sharp depreciation of the rupee. Exports surged 23.9% to USD 1,248 million, boosted by sales of industrial products (28.4%), mainly textile and garments (36.9%), rubber products (7.2%). Meanwhile, imports slumped 26.1 percent from a year earlier to USD 1,226 million on lower purchases of consumer goods (-53.8%), in particular dairy products (-75.0%) and vegetables (-45.5%). Also, purchases declined for intermediate goods (-2.8%), mainly chemical products (-24.0%), plastics and articles thereof (-39.9%). Further, investment goods plunged by 46.3%) namely machinery and equipment (-42.2%), building material (-42.0%). Considering the first half of the year, the trade gap narrowed to USD 3,514 million from USD 4,316 million in H1 of 2021.
2022-08-02
Sri Lanka Posts Smallest Trade Gap in 21 Months
Sri Lanka’s trade deficit declined to USD 404 million in May of 2022 from USD 716 million a year ago. It was the smallest trade gap since August 2020, as imports fell while exports jumped, amid plunging the rupee. Imports dropped 9.7 percent from a year earlier to USD 1,451 million on lower purchases of consumer goods (-30.2%), in particular dairy products (-7.3%) and vegetables (-26.2%). Also, purchases decreased for intermediate goods (-0.9%), namely chemical products (-24.9%), plastics and articles thereof (-21.9%). Further, investment goods plunged by 22.7%) namely machinery and equipment (-18.1%), building material (-29.2%). Meanwhile, exports surged 17.5% to USD 1,047 million, driven by sales of industrial products (24.2%), mainly textile and garments (29.9%), petroleum products (59.5%). Considering the first five months of the year, the trade gap narrowed to USD 3,535 million from USD 3,663 million in the same period of 2021.
2022-07-12
Sri Lanka Trade Gap Smallest in 5 Months
Sri Lanka’s trade deficit decreased to USD 729 million in April of 2022 from USD 889 million a year ago, pointing to the smallest trade gap since last November, as imports dropped while exports surged. Imports fell 0.5 percent from a year earlier to USD 1,699 million on lower purchases of consumer goods (-15.4%), in particular sugar and confectionery (-35.5%) and seafood (-15.9%). Also, purchases declined for investment goods (-24.6%) namely machinery and equipment (-21.2%), building material (-22.9%). By contrast, imports grew for intermediate goods (11.3%), namely fuel (23.5%), textiles and textile articles (23.1%). Meanwhile, exports soared 18.5% to USD 969.8 million, boosted by sales of industrial products (21.9%), mainly textile and garments (22.3%), rubber products (10.7%); and agricultural products (7.3%), in particular tea (1.5%). Considering the first four months of the year, the trade gap widened to USD 3,131 million from USD 2,948 million in the same period of 2021.
2022-06-13