Sri Lanka’s imports were down 2.5 percent from a year ago to 1,524 million US dollars while exports were down 3.7 percent to 952 million dollars and the trade deficit had climbed back to 572 million US dollars compared to 574 million dollars last year, data shows. Remittances were up 9.9 percent to 580 million US dollars. In the first two months of the year exports were down 5.3 percent to 1.888 million US dollars and import were down 5.5 percent to 3.1 million US dollars. The trade deficit up to February was 1.22 billion US dollars down from 1.3 billion dollars last year. Sri Lanka’s imports had almost caught up to last year’s level as credit picked up amid record money printing, despite the worst import controls since the 1970s. Consumer goods imports in February were down 16.7 percent to 272.7 million dollars.
Non-food consumer goods were down 26 percent to 140 million dollars. Vehicles were down to 0.9 million US dollars from 53.6 million dollars a year earlier. Home appliances were down 11 percent to 17.5 million dollars and clothing was down 37 percent to 17.4 million dollars. Intermediate goods were up 3.8 percent to 945 million US dollars with textiles and textiles articles up 22.4 percent to 222.8 million US dollars indicating stronger orders for apparels ahead. Wheat and maize rose to 55.5 million US dollars from 8.4 million dollars. Fuel was down 23 percent to 320 million US dollars.
Investment goods were down 4.7 percent to 3030.7 million dollars, with building materials down 13 percent to 89.2 million US dollars. Machinery and equipment was up 5.6 percent to 193.8 million US dollars. Exports were down 6.3 percent with textiles and apparel down 5.3 percent ad petroleum products down 60 percent to 22.7 million US dollars. Rubber products were up 13.2 percent to 81 million US dollars.