Sri Lanka's External Sector remains stable in February

November 24, 2024

Development - Provincial

Sri Lanka's External Sector remains stable in February

May 08, 2015

Sri Lanka’s external sector remained stable in February 2015. Although the deficit in trade account in February 2015 narrowed compared to the previous month, it expanded at a higher rate compared to February 2014 as the growth in imports outweighed the growth in exports, External Sector Performance for February 2015 released by the Central Bank revealed.

As per data released, the deficit in the trade account in February 2015 widened by 10.4 per cent to US dollars 638 million in comparison to US dollars 578 million in February 2014. Accordingly, during the first two months of 2015, the cumulative deficit in the trade account amounted to US dollars 1,410 million.

Meanwhile, tourist earnings and workers’ remittances continued to be main sources of inflows improving the current account balance of the Balance of Payments. Inflows to the financial account moderated mainly due to the deceleration in investment activities with the reviewing of major infrastructure projects of the public sector.