Sri Lanka’s year on year import bill during the month of April has declined by 3.3%, the first time in 25 months.
Central Bank says this is as a result of the policy measures introduced by the Bank during the first quarter of this year aiming to curb imports.
Accordingly, the country has paid an import bill of US$ 1.44 billion during April, while exports earnings also have declined by 9.2% during the same month to bring in an earning of just US$ 680 million.
Central Bank says exports earnings in April declined largely due to lower international market prices of several major export items.
Trade deficit for the month of April 2012 has grown moderately by 2.6% year-on-year to stand at US$ 761 million, decelerating at a rapid pace for the third consecutive month and recording the lowest increase in 17 months.
Meanwhile, the country’s exports earnings during the first four months of the year has also declined by 3.1% to record a figure of US$ 3.31 billion compared US$ 3.41 billion earned during the same period last year.
Sri Lanka’s import bill during the January to April period this year has gone up by 11.9% to incur a bill of US$ 6.63 billion, compared to a bill of US$ 5.928 incurred during the same period of last year.
Trade deficit during the reference period has widened by 32.2% to stand at US$ 3.31 billion by end April.
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