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.