Sri Lanka’s trade deficit narrowed to USD 206 million in September of 2022 from USD 492 million in the corresponding month of the previous year. Exports grew by 4.3% to USD 1,079 million, supported by sales of textile garments (5%), tea (13.2%), machinery and appliances (38.9 percent), and gems, diamonds, and jewelry (129.1%). Conversely, exports fell for rubber products (-13.1%). In the meantime, imports declined by 15.8%, amid lower purchases of machinery and transport equipment (-61.5%) and manufactured goods (-25.9%). Considering the first three quarters of 2022, the trade gap narrowed to USD 4,104 million from USD 5,999 million in the same period of 2021. source: Central Bank of Sri Lanka

Balance of Trade in Sri Lanka averaged -510.65 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 November of 2022.

Balance of Trade in Sri Lanka is expected to be -350.00 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
2022-10-07 01:40 AM Aug $-261M $-123M
2022-11-04 02:00 PM Sep $-206M $-261M $ -430M
2022-12-16 09:00 AM Oct $-206M $-240M


Related Last Previous Unit Reference
Balance of Trade -205.50 -261.50 USD Million Sep 2022
Current Account -472.52 -1355.92 USD Million Jun 2022
Current Account to GDP -4.00 -1.50 percent of GDP Dec 2021
Imports 1284.40 1485.90 USD Million Sep 2022
Exports 1078.90 1224.40 USD Million Sep 2022
External Debt 48730.71 50592.85 USD Million Jun 2022
Terms of Trade 91.29 82.52 points Sep 2022
Tourism Revenues 54.00 67.90 USD Million Sep 2022
Remittances 359.00 325.40 USD Million Sep 2022
Foreign Direct Investment 219.70 77.67 USD Million Jun 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
-205.50 -261.50 110.30 -1100.65 2002 - 2022 USD Million Monthly

News Stream
Sri Lanka Trade Deficit Narrows in September
Sri Lanka’s trade deficit narrowed to USD 206 million in September of 2022 from USD 492 million in the corresponding month of the previous year. Exports grew by 4.3% to USD 1,079 million, supported by sales of textile garments (5%), tea (13.2%), machinery and appliances (38.9 percent), and gems, diamonds, and jewelry (129.1%). Conversely, exports fell for rubber products (-13.1%). In the meantime, imports declined by 15.8%, amid lower purchases of machinery and transport equipment (-61.5%) and manufactured goods (-25.9%). Considering the first three quarters of 2022, the trade gap narrowed to USD 4,104 million from USD 5,999 million in the same period of 2021.
2022-11-04
Sri Lanka Trade Gap Narrows in August
Sri Lanka’s trade deficit declined to USD 261 million in August of 2022 from USD 586 million in the corresponding month of the previous year. Exports grew by 11.2% to USD 1,224 million, boosted by sales of industrial products (12.6%), mainly textile and garments (14.9%) rubber products (9%). Conversely, sales fell for agricultural goods (-27.0%), petroleum products (-30.28%). Meanwhile, imports dropped by 11.9% to USD 1,486 million, on lower purchases of consumer goods (-28.7%) and invtestment goods (-39.5%), amid a slumping currency. Considering the first eight months of the year, the trade gap narrowed to USD 3,899 million from USD 5,507 million in the same period of 2021.
2022-10-07
Sri Lanka Trade Gap Narrows in July
Sri Lanka’s trade deficit shrank to USD 123 million in July of 2022 from USD 606 million in the corresponding month of the previous year. Exports rose by 5.4% to USD 1,164 million, boosted by sales of industrial products (12.4%), mainly textile and garments (21.4%) and gems, diamonds and jewellery (75.4%). Conversely, those of agricultural goods (-14.5%) and mineral products (-42.8%) declined. Meanwhile, imports tumbled by 24.8% to USD 1,287 million, on lower purchases of consumer goods (-46.2%), capital goods (-44.3%) and intermediate goods (-9.5%), amid a plunging currency.
2022-09-06