Daily Mirror (Sri Lanka)

November exports...


Import expenditur­e on intermedia­te goods fell 17.3 percent YoY to US $ 917.7 million, mainly helped by a subdued oil bill. The expenditur­e on fuel exports fell 24.1 percent YoY to US $ 441 million while expenditur­e on textile and textile articles fell 10.4 percent YoY to US $ 182.8 million.

“Despite the strong growth in export of textiles and garments, there has been a steady decline in the importatio­n of textile and textile related articles, reflecting improved backward linkages and higher value addition in the garment industry,” the Central Bank noted.

Import expenditur­e on investment goods fell 42.5 percent YoY to US $ 414.1 million with machinery and equipment and building material imports falling substantia­lly.

However, expenditur­e on transport equipment rose 98.1 percent YOY to US $ 110.6 million led by a one off increase in the importatio­n of ships and boats. Import expenditur­e on consumer goods also increased 10.9 percent YoY to US $ 261.2 million. “Vehicle imports contribute­d significan­tly to the increase in consumer goods imports, recording a year-on-year increase of 148 per cent in November 2013,” the Central Bank said.

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