Central Bank of Sri Lanka notes a 10.2 percent increase in exports in 2017 with seafood and tea heading the list
The Central Bank of Sri Lanka states that exports have risen by 10.2 percent from a year earlier to Rs. 11.36 billion in 2017.
The Central Bank statistics have noted that tea exports have increased by 20 percent, seafood by 41.9 percent, while apparel exports increased by 3.0 percent.
The Central Bank has further noted that imports have recorded an increase of 9.4 percent to US$ 20.98 billion.
Meanwhile, the trade gap has expanded to US$ 9.62 billion from US$ 8.873 billion a year earlier.
The trade gap expanded amid strong capital inflows. The central bank collected US$ 1.6 billion of reserves from forex markets and invested them abroad, preventing them being turned into imports.
OSL take:
The expansion in Sri Lanka’s exports sector recorded by the country’s Central Bank is a positive note for those looking for opportunities to invest in business ventures in the country. Seafood and tea exports have recorded the highest growth in exports last year. Therefore, investing in the fisheries sector as well as the tea plantation sector would bring good yields for these investing.
| Article Code : | VBS/AT/20180221/Z_1 |