Sri Lanka Balance of Trade

Last Release

Nov 30, 2024

Actual

-502

Units In

USD Million

-544

Frequency

Monthly

Next Release

Jan 31, 2025

Time to Release

29 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
541.1 Jan 2024	-1,100.65 Nov 2011	-494.02 USD Million	2002-2024	Central Bank of Sri Lanka

Sri Lanka exports mostly textiles and garments (40% of total exports) and tea (17%). Others include: spices, gems, coconut products, rubber and fish. Main export partners are United States, United Kingdom, Germany, Belgium and Italy. Sri Lanka imports petroleum, textile fabrics, foodstuffes and machinery and transportation equipment. Main import partners are India, China, Iran and Singapore.

Latest Updates

Sri Lanka's trade deficit widened to USD 502 million in November 2024, compared to USD 390 million in the same month of the previous year. Exports fell by 0.5% to USD 994 million, driven by declines in industrial goods (-1.4%) due to lower sales of transport equipment, gems, diamonds, jewelry, and machinery. However, petroleum product exports grew notably, and agricultural exports rose, supported by increased volumes of spices, tea, and coconut-based products. In contrast, imports rose by 7.7% to USD 1,496 million, led by higher expenditure on consumer goods (+8.1%) and investment goods (+7.5%), reflecting increased imports of machinery, equipment, and food items.