24th February 2012, www.news360.lk
Sri Lanka’s trade deficit during the year 2011 has jumped to US$ 9.74 billion, an increase of 99.6% over the previous year’s figure of just US$ 4.88 billion.
The country’s total export earnings during the year 2011 has risen by 22.4% year on year to achieve a figure of US$ 10.48 billion, while its import bill has climbed up to US$ 20.23 billion, an year on year increase of 50%.
Out of the total import cost, the country has spent US$ 4.63 billion to import oil while motor cars and cycle imports which falls under the consumer goods imports has cost US$ 1 billion.
Expenditure on imports of textiles and clothing has amounted to US$ 2.23 billion while gold imports have seen a bill of US$ 604 million.
Sri Lanka also has spent US$ 4.66 billion to import investment related goods to the country.
The country’s export earnings have been backed by exports of textiles and garments which has seen growing by 24.6% year on year to bring in US$ 4.20 billion.
Island nation has seen its tourism sector bringing in US$ 830 million, a 44.2% year on year growth.
Worker remittances to the country during the year 2011 have hit a record mark of US$ 5.14 billion.
Related Info :
• Sri Lanka's Exports in December 2011 Went up 24pct to $ 906mn with Sharp Gains in Textiles & Rubber