The latest reports from the Central Bank show that Sri Lanka’s import expenditure rose by 30.5% in the first quarter of 2021.
The first quarter expenditure for 2020 was US$ 7,675 Mn as against US$ 10,015 Mn in 2021.
The export revenue has risen during the same period to US$ 5,699 Mn (a rise of 29.1%). However, the unfavourable balance of trade (gap between exports and imports) has risen from US$ 3,262 Mn to US$ 4,316 Mn.
The rise in import expenditure is chiefly due to the cost of fuel which has risen by US$ 543.8 Mn.