Earnings from exports in November 2021 notched up a total of USD 1.211 billion, recording the highest monthly export value in history, the Central Bank of Sri Lanka (CBSL) reported.
Issuing a statement, the CBSL said this marks the sixth consecutive month of above US dollars 1.0 billion of exports.
Earnings from exports in November 2021 grew by 54.6 percent over November 2020. An increase in earnings was observed in all categories, while industrial exports mainly contributed to the expansion.
Meanwhile, import expenditure also increased at a higher rate in November 2021.
The bank said reflecting the favourable impact of increased exports, the merchandise trade deficit narrowed to US dollars 553 million in November 2021 compared to US dollars 600 million in November 2020.
Tourist arrivals continued to gather momentum with a notable increase over the previous month, showing strong signs of revival.
The Central Bank also said that further moderation of workers’ remittances was observed in November 2021.
It added that the weighted average spot exchange rate in the interbank market continued to hover around Rs. 202 per US dollar during the month.
Courtesy NewsWire
