Sri Lanka’s trade deficit widened by 141.7 percent over the past year, the Central Bank said in its External Sector Performance review released on Friday.
The trade deficit in October 2014 widened to US $851.7 million compared to US$ 353.3 million in October 2013.
The significant widening of the trade deficit was due to increased expenditure on imports amidst reducing earnings from exports. The increase in imports during October, was predominantly caused by rising imports in fuel and vehicles reports Colombo Page.
The trade deficit in October 2014 widened to US $851.7 million compared to US$ 353.3 million in October 2013.
The significant widening of the trade deficit was due to increased expenditure on imports amidst reducing earnings from exports. The increase in imports during October, was predominantly caused by rising imports in fuel and vehicles reports Colombo Page.