Sri Lanka: Worker remittances up 18.7% to $612 million in November

COLOMBO: Sri Lanka’s exports were down 16.3 percent to $819 million dollars in November 2021 from a year earlier and imports were down 20.5 percent, $1,384 million, taking the trade deficit down to $565 million from 762 million, the Central Bank said in report of Economy Next.

Worker remittances were up 18.7 percent to $612 million.

Sri Lanka’s credit has been picking up over the last quarter from contractions in the second quarter driving activity and imports up, according to Economy Next.

Imports in November were slightly up from $1,363 million in October. Exports in October were $848 million.

In November. consumer goods imports fell 31 percent from a year earlier to $255 million amid controls including cars.

Intermediate goods were down 17.6 percent to $818.3 million with refined petroleum down 51 percent to$ 98 million, according to Economy Next.

Textile and apparel articles, which are an export input, were down 15 percent to $216 million, and ware around the same level as $218 million in October.

Total imports down were down 20 percent to $14.52 billion.

Apparel exports were down 32 percent to $326 million to $484 million.

Gems diamonds and jewelry exports were up 120 percent to $59 million.