Export income surged by 12.9 per cent within first seven months: CBSL
The export income has surged by 12.9 per cent within the first seven months of 2022, in comparison with the previous year, the Central Bank of Sri Lanka (CBSL) revealed.
The export income from January to July this year is US $ 7678 million, according to CBSL statistics.
Compared to last year, import costs have declined by 3.5 per cent and import expenses have dropped by only 24.8 per cent in July. The total import cost for January-July period is recorded as US $ 11,315 million, CBSL data revealed.
The country’s forex reserves are said to have grown to a certain extent due to the growth in export earnings and drop in import costs, and with the US $ 1.5 billion exchange facility provided by the People’s Bank of China, total reserves have risen to US $ 1.8 billion.