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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka’s export earnings during the 1st half of 2012 drops marginally

Sri Lanka’s export earnings during the 1st half of 2012 drops marginally

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka has earned US$ 4.96 billion as export earnings during the first half of 2012, a 2% drop compared to what the country earned during the same period of last year.
During the first half of 2011, the country’s export earnings stood at just over a US$ 5 billion.
Meanwhile, import expenditure during the first half of 2012 has increased by 4.2% year on year to incur a bill of US$ 9.66 billion from US$ 9.28 billion spent during the same period of last year.
The country has recorded a trade deficit of US$ 4.70 billion during the first six months of this year, widening by 11.6% year on year.
Sri Lanka has earned US$ 2.94 billion via worker remittances during the 1st half of this year; an increase of 17.4% while the country’s FDI too has gone up by 14.6% to record a sum of US$ 451 million.
Commercial Banks have borrowed US$ 927 million via overseas sources during the reference period, while Earnings from tourism during the specified period stands at US$ 459.9 million.
Government has got US$ 2.27 billion worth inflows during the first half of this year, an increase of 50.8% year on year.
http://www.news360.lk/economy/news-trade-sri-lanka%E2%80%99s-23-08-2012-export-earnings-during-the-1st-half-of-2012-drops-marginally-001123

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