Sri Lanka recorded a trade deficit of 762.31 USD Million in November of 2019.

Balance of Trade in Sri Lanka averaged -528.75 USD Million from 2003 until 2019, reaching an all time high of -50.10 USD Million in May of 2003 and a record low of -1100.70 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. source: Central Bank of Sri Lanka

Balance of Trade in Sri Lanka is expected to be -910.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Sri Lanka to stand at -820.00 in 12 months time. In the long-term, the Sri Lanka Balance of Trade is projected to trend around -610.00 USD Million in 2020, according to our econometric models.


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Sri Lanka Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-762.31 -838.00 -50.10 -1100.70 2003 - 2019 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-09-27 10:20 AM Jul $-717M $-316M $-705M
2019-10-14 10:45 AM Aug $-540M $-717M $-852M
2019-11-15 09:30 AM Sep $-758M $-540M $ -470M
2019-12-16 12:00 PM Oct $-838M $-758M $-920M
2020-01-31 09:00 AM Nov $-838M $-850M


News Stream
2019-11-15
Sri Lanka Trade Gap Widens 6.3% YoY in September
Sri Lanka's trade deficit increased to USD 758 million in September of 2019 from USD 713 million in the same month of the previous year. Exports dropped 9.8 percent to USD 952 million, due to lower shipments of industrial products (-8.4 percent), particularly textiles and garments (-5.5 percent) and petroleum products (-41.3 percent); agricultural (-14 percent) and mineral products (32.6 percent). Imports dropped 3.3 percent to USD 1,711 million, amid declines in purchases of intermediate goods (-5.2 percent), namely fuel (-10.7 percent) and consumer goods (-17.5 percent). In contrast, exports of investments goods advanced 19.3 percent.

2019-10-14
Sri Lanka Trade Gap Narrows 36.5% YoY in August
Sri Lanka's trade deficit decreased to USD 540 million in August of 2019 from USD 850 million in the same month of the previous year. Exports dropped 0.4 percent to USD 1,033 million, due to lower shipments of agricultural products (-3.6 percent), particularly spices (-19.9 percent) and coconut (-9.7 percent); and mineral products (-31.6 percent). At the same time, industrial exports increased 0.6 percent, boosted by higher sales of textiles and garments (7.0 percent). Imports declined 16.6 percent to USD 1,574 million, amid declines in purchases of intermediate goods (-18.6 percent), namely fuel (-34.5 percent); consumer (-23 percent) and investment goods (4.4 percent).

2019-09-27
Sri Lanka Trade Gap Widens 5.3% YoY in July
Sri Lanka's trade deficit increased to USD 717 million in July of 2019 from USD 681 million in the same month of the previous year. Exports dropped 7.0 percent to USD 999 million, due to lower shipments of industrial products (-6.4 percent), namely rubber products (-1.4 percent) and machinery and mechanical appliances (-6.3 percent). In addition, agricultural exports slumped 9.1 percent, dragged down by lower sales of tea (-11.1 percent) while mineral shipments fell 1.8 percent. Meantime, imports dropped 2.2 percent to USD 1,716 million amid declines in purchases of intermediate goods (-0.6 percent), due to lower expenditure in textiles and textile articles (-0.4 percent); and consumer goods (-8.6 percent). In contrast, imports of investment goods went up 0.9 percent.

2019-08-22
Sri Lanka Trade Gap Narrows Markedly in June
Sri Lanka's trade deficit decreased to USD 316 million in June 2019 from USD 795 million in the same month of the previous year. Exports rose 5.8 percent to USD 1,084 million, boosted by shipments of industrial products (9.3 percent), namely textiles and garments (11.4 percent); rubber products (2.3 percent) and transport equipment (690.4 percent). In contrast, agricultural exports slumped (-6.8 percent), dragged down by lower sales of tea (-12.7 percent) while mineral shipments dropped 9.9 percent. Meantime, imports dropped 23.1 percent to USD 1,400 million, amid declines in purchases of intermediate goods (-11.1 percent), due to lower expenditure in fuel (-17 percent); consumer (-39.4 percent) and investment goods (-32.6 percent

2019-07-19
Sri Lanka Trade Gap Narrows 11.8% YoY in May
Sri Lanka's trade deficit decreased to USD 823 million in May 2019 from USD 933 million in the same month of the previous year. Exports rose 4.0 percent to USD 961 million, boosted by shipments of industrial products (4.5 percent), namely textiles and garments (6.5 percent) and rubber products (12.5 percent); and agricultural products (3.0 percent), driven by higher sales of tea (3.6 percent) and coconut (33.4 percent). In contrast, mineral exports fell 19.9 percent. Meantime, imports dropped 3.9 percent to USD 1,784 million, amid declines in purchases of consumer goods (-19.8 percent), dragged down by lower expenditure in non-food products (-30.9 percent). On the other hand, imports of intermediate (0.4 percent) and investment goods (1.4 percent) increased.

2019-06-28
Sri Lanka Trade Gap Narrows 20.2% YoY in April
Sri Lanka's trade deficit decreased to USD 797 million in April 2019 from USD 999 million in the same month of the previous year. Exports rose 0.4 percent to USD 798 million, boosted by shipments of industrial products (2.7 percent), namely textiles and garments (5.6 percent) and petroleum products (13.7 percent); and mineral products (18.3 percent), primarily to the US and non-traditional markets such as Canada and China. Meanwhile, exports of agricultural products fell 7.0 percent, driven by lower sales of tea (-9.7 percent); seafood (-0.6 percent) and spices (-11 percent). Imports fell 11 percent to USD 1,596 million, amid declines in purchases of consumer goods (-26.6 percent), dragged down by lower expenditure in both food & beverages (-3.1 percent) and non-food products (-36.7 percent) while imports of intermediate goods went down 9.8 percent, driven by fuel (-9.7 percent).


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.

Sri Lanka Trade Last Previous Highest Lowest Unit
Balance of Trade -762.31 -838.00 -50.10 -1100.70 USD Million [+]
Current Account -522.26 -660.68 445.55 -1695.29 USD Million [+]
Current Account to GDP -3.00 -2.60 -0.40 -19.30 percent [+]
Exports 978.79 977.00 1137.00 304.80 USD Million [+]
Imports 1741.09 1816.00 2048.00 408.00 USD Million [+]
External Debt 55157.27 55469.49 55469.49 37098.10 USD Million [+]
Terms of Trade 104.50 110.68 161.24 74.50 points [+]
Tourist Arrivals 241663.00 176984.00 253169.00 5536.00 [+]
Gold Reserves 19.66 19.89 23.10 3.63 Tonnes [+]
Terrorism Index 3.57 4.05 7.13 2.91 [+]
Tourism Revenues 269.50 217.20 475.20 19.30 USD Million [+]
Remittances 518.20 625.70 729.35 241.34 USD Million [+]
Foreign Direct Investment 230.00 110.00 961.00 20.00 USD Million [+]