Business

Sri Lanka’s trade deficit reduces significantly in April

Sri Lanka’s trade deficit reduced to $ 797 million in April 2019 from $ 999 million in April 2018.

The considerable reduction was due to the decline in import expenditure by 11 per cent (year-on-year) and a marginal increase of export earnings by 0.4 per cent (year-on-year), Central Bank data showed.

Meanwhile, on a cumulative basis, the trade deficit contracted sharply to US $ 2.46 billion during the first four months of 2019 from US $ 3.98million recorded in the corresponding period of 2018.