External Trade Performance
 

February 2009 and January-February 2009

Category		February	February	Growth-	  	Jan.Feb.	Jan.-Feb. 	Growth
			2008		2009	  	February	 2008		2009		 Jan.-Feb.
			US$ mn		US$ mn  	(per cent)  	US$ mn   	  US$ mn	 (per cent)

Exports			642.6		524.3		-18.4		1,197.9		1,015.4		-15.2
Agricultural		157.3		108.6		-31.0		291.4		209.6		-28.1
of which, tea		108.6		72.3		-33.4		199.5		133.9		-32.9
Industrial		470.7		407.7		-13.4		876.7		792.7		-9.6
of which, textiles 
and garments		257.2		275.1		7.0		487.4		515.7		5.8
Mineral			14.6		8.0		-45.5		29.9		13.0		-56.4

Imports			959.8		601.8		-37.3		2,135.0		1,277.0		-40.2
Consumer Goods		212.4		142.1		-33.1		413.6		295.8		-28.5
Intermediate Goods	503.9		288.8		-42.7		1,163.4		622.5		-46.5
of which, petroleum	167.3		95.5		-42.9		468.5		175.9		-62.45
Investment Goods	239.6		165.0		-31.2		544.7		341.6		-37.3

Balance of Trade	-317.2		-77.6		-75.5		-937.1		-262.1		-72.0
Private Remittances	248.8		239.3		-3.8		522.8		495.3		-5.3

Source: Central Bank of Sri Lanka

The trade deficit contracted by 75.5 per cent in February 2009, year-on-year, to record US dollars 78 million,
 the lowest monthly value in four years, owing to the sharp decline in imports which significantly outpaced the fall in exports. 
The cumulative trade deficit decreased by 72.0 per cent to US dollars 262 million in the first two months of 2009 from US dollars
 937 million in the corresponding period in 2008 said in a press release issued by the Central Bank.
The external trade performance during this period is further illustrated in the above table.