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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka export income drops by 6.6% during the first eleven months

Sri Lanka export income drops by 6.6% during the first eleven months

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lanka’s export earnings during the first 11 months of the year 2012 has declined by 6.6% to record an income of US$ 8.99 billion, compared to US$ 9.62 billion earned, during the same period of 2011.

The country’s import expenditure also has declined during the same period by 4.5% , thus incurring a bill of US$ 17.57 billion, compared to US$ 18.39 billion.

The Island’s trade deficit during the said period stands at a massive sum of US$ 8.58 billion, marginally down from last years same periods figure of US$ 8.76 billion, a 2.1% drop.

Export Income
Export income has been affected by the drops experienced in tea and textile exports, which have respectively declined by 6.2% and 4.6%, during the reference period.

During the first eleven months, tea exports has generated an income of US$ 1.23 billion, compared to US$ 1.35 billion, earned during the same period of last year.

Textiles and garments export earnings has declined to US$ 3.66 billion, compared to US$ 3.80 billion earned during the reference period of 2011.

Import expenditure
During the January to November period of 2012, import expenditure on consumer goods have declined by 17.2% to incur a sum of US$ 2.75 billion, compared to US$ 3.32 billion spent during the reference period.

Apart from it, importation of intermediate goods has gone down by 3.7% to incur a sum of US$ 10.76 billion, compared to US$ 11.11 billion, spent during the same period of last year.
http://www.news360.lk/economy/news-trade-sri-lanka-28-12-2012-export-income-drops-by-6-6-during-the-first-eleven-months-889765

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