Exports up 7.0 percent

Sri Lanka exports grew 7.0 percent to 760.3 million US dollars in August. Industrial exports were up 7.8 percent to 1760.3 million dollars, though apparel exports continued to weaken, falling 4.6 percent to 309.3 million US dollars.

The Central Bank said exports of machinery and equipment rose with helped by boats, bicycles, electrical equipment inductors and cables. Rubber and petroleum products also increased. Tea exports were stable at 123.3 million US dollars up 1.9 percent. Imports grew strongly at 35.7 percent to 1,142.6 million US dollars expanding the trade deficit 190 percent to 383.3 million rupees. Consumer goods imports grew 60 percent to 248.3 million US dollars, intermediate goods was up 20.4 percent to 622.1 million US dollars. Petroleum was up 5.7 percent to 230.8 million US dollars while textile imports which feeds exports was up 5.7 percent to 230.8 million US dollars.

Imports were up 36.9 percent to 8,669 million US dollars with consumer goods up 45.1 percent to 1,832 million US dollars, intermediate goods up 39.9 percent to 4.8 billion US dollars and investment goods up 7.3 percent to 731.0 million US dollars.