Sri Lanka's trade deficit widened to USD 6 billion in 2024, up from USD 4.9 billion in 2023.

Accordingly, the Central Bank of Sri Lanka (CBSL) noted that despite recording the second-highest annual export earnings in history, the increase in imports outpaced export growth, leading to the higher deficit.

Merchandise export earnings grew by 7.2% to USD 12.8 billion, while import expenditure rose by 12.1% to USD 18.9 billion.

The report also highlighted a net outflow of USD 179 million in foreign investments in government securities, although a net inflow of USD 18 million was observed in December.

Sri Lanka’s gross official reserves stood at USD 6.1 billion at the end of 2024, supported by central bank actions and multilateral funding.